ISSUE - 113 31st MARCH [THURSDAY]

EDITOR’S DESK - TANIYA BANERJEE

For the past few months I have been wondering which sector would be next to be affected by

corruption? And lo and behold it is the aviation sector that has been struck by the menace, or

rather it was always there we just got enlightened recently! From telecom to real estates nothing

seems untouched from this plague. Therefore this week we are covering the latest aviation scam

in our cover story.

What should be the next weapon for India to counter terrorism? Should it be dialogs? Or should

it be planned assassination of its perpetrators? Should the land of Gandhi change its attitude to-

wards countering terrorism and take up this path of violence? Get answers to these questions in

our Opinion Column this week.

This week we are tracking Emami group in our Brand Track section. The growth along with the

success story of various brands under this group is a story which fuels inspiration amongst all.

Get to know many an unknown facts including the various strategies employed by it this week.

This week around we are talking about TED in our Focus Of the Week section. It is a small non-

profit organization aimed at spreading innovative ideas. From Al Gore to Jane Goodall, many

eminent personalities have taken up this as an opportunity to spread ideas worth spreading! Get

to know more about its origins and its founder here this week.

Moreover we have our regulars Fast-Track, Quick Bites and Market Watch yet again. We hope

all of you have as much fun as we had putting it together.

Cheers,

Taniya Banerjee

Editor.

EDITOR 1 OPINION 5 FOCUS 8

COVER 2 BRAND 6 MARKET 9

FAST-TRACK 3 QUICK BITES 7

COVER STORY– TROUBLE IN THE SKIES - TANIYA BANERJEE Imagine this- you are travelling by air, solely concerned about reaching your destination without

any other thought in your mind. Being in the flight you have placed your precious life in the

hands of the pilot and people of the concerned airlines. Do you know what you have signed in

for? Perhaps your death! Yes the recent crackdown by DGCA on the fake pilot scam has brought

up gory details on the matter. Several cases of fake pilot licenses have already been uncovered

with the DGCA Air India‟s Captain JK Verma, Indigo‟s Parminder Kaur Gulati and SpiceJet‟s

Garima Passi being a few to name. And the can of worms has just opened up. With the DGCA

already having started to scrutinize over 4000 licenses the numbers have all the probability to

shoot up.

The entire scandal surfaced with the arrest of Captain Gulati on March

8, who later confessed to having submitted forged result card of the

Air Navigation and Radio Aids and Instruments examination manda-

tory for obtaining an Air Lines Transport License. Since then, the

DGCA has grounded 14 pilots on account of forgery. The forgery that

is being tracked is essentially of two types. The first type is related to

failure in securing the required grades in the Commercial Pilot License

(CPL) exam and the second type is related to flying schools crediting

flying hours in certificates which have not actually been undertaken by

the pilots. With this a very different facet to the case has come to the

forefront. According to the DGCA, a person is eligible to fly a com-

mercial aircraft only on securing of a CPL, which can be obtained on completion of 200 hours of

flying during training. And the rot seems to have started at the most basic level itself. It is being

suspected that various flying schools have been manipulating their log books in an effort to see

their students placed as pilots at the earliest.

Touts too seem to be on an all time high. Several instances are being recorded wherein on a

charge of 3 to 4 lakhs INR, fake certificates are awarded to aspiring pilots. Therefore the recent

crackdown of the nexus might just as well be the tip of the iceberg. But somewhere down the

line the system is to be blamed as well. Lack of transparency in the system is one of the major

factors which is driving hordes of gullible students into the hands of these so called middlemen.

Delay in issuing of license is one such reason. In India the norm is to issue licenses to pilots after

one month of clearing exam but in reality it takes more than three months whereas in countries

like US temporary licenses can be issued within 24 hours of examination. So if the system itself

becomes clear enough many an ill can be controlled at the most basic levels. Redressal of the

situation needs to be done at the earliest and the authorities seem to have taken a prompt action

on the matter as well. What one needs to wait and see is, will this sudden crackdown be able to

control the menace of corruption that has now become so deep rooted in our society, that no

amount of force seems to be effective enough to root it out?

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Several cases of fake

pilot licenses have already

been uncovered with the

DGCA Air India’s

Captain JK Verma, In-

digo’s Parminder Kaur

Gulati and SpiceJet’s

Garima Passi being a few

to name.

Touts too seem to be on an

all time high. Several

instances are being re-

corded wherein on a

charge of 3 to 4 lakhs

INR fake certificates are

awarded to aspiring pi-

lots.

FAST-TRACK NEWS - SHILPA MALHOTRA Mylan files suit against USFDA to block Ranbaxy's generic Lipitor U.S.-based Mylan Pharmaceuticals has filed a case against the USFDA, seeking the withdrawal of approval to Ranbaxy

Laboratories to sell the generic version of cholesterol lowering drug Lipitor, claiming that the Indian firm has violated

norms. Ranbaxy is the first generic company to get approval from the USFDA to sell the generic version of Pfizer's Lipi-

tor. Mylan said the USFDA had “found that Ranbaxy engaged in a pattern and practice of submitting to FDA drug applica-

tions containing false and unreliable data generated from Ranbaxy's Paonta Sahib” in India where it produces generic Lipi-

tor.

AT&T to buy T- mobile for $39 billion AT&T announced to buy T-Mobile USA from Deutsche Telekom for $39 billion, in a deal that would create the largest

carrier in the nation. The transaction which is one of the largest since the onset of the financial crisis is expected to incite a

fierce battle in Washington as regulators scrutinize the impact of the deal on competition and consumers. Under the terms

of the deal, AT&T will pay $25 billion in cash and the balance in stock. Deutsche Telekom will gain an 8% stake in AT&T

and a seat on the telecom giant's board.

Warren buffet to invest heavily into India; feels FDI cap in insurance is a deterrent Berkshire Hathaway recently made a foray into the Indian non-life insurance sector as a corporate agent for Bajaj Allianz

General. Addressing a media conference Berkshire Hathaway Chairman and CEO Mr. Buffett said the 26% ceiling on for-

eign direct investment in the insurance sector was a deterrent. “India is a logical place to invest in,” he remarked. He said

investments had to be large enough to be meaningful.

CBI files affidavit to seek Anderson custody CBI has filed an affidavit against former Union Carbide Corporation Chairman, Warren Anderson, who will face trial in

the Bhopal gas tragedy case listing the charges against him. The world's worst industrial disaster left over 15,000 people

dead and over five lakh injured when toxic methyl isocyanate leaked from the plant owned by the UCC's subsidiary Union

Carbide India Limited. CBI said; “Mr. Anderson had full knowledge of the defective design and structure of the plant and

of the poor safety measures adopted at the UCIL, Bhopal, the consequences of which were bound to occur and did occur

when the poisonous gas leaked.”

Pakistan accepts world cup invite to Mohali Pakistan Prime Minister Yousuf Raza Gilani on Sunday accepted his Indian counterpart Manmohan Singh‟s invitation to

watch the World Cup semi-final between the cricket teams of the two countries at Mohali on March 30. The decision was

taken following a meeting between President Asif Ali Zardari and Mr. Gilani. At the meeting, it was decided that in re-

sponse to the Indian Prime Minister‟s invitation, the Prime Minister of Pakistan will visit India to witness the semi-final

(of World Cup) between the two cricket teams.

BlackBerry to set up plant in India After Nokia, Samsung, LG and other global brands, BlackBerry smart phones-maker Research in Motion is likely to set up

an Indian manufacturing facility in view of the potential within the country and the surrounding region and may develop

the country into an export hub. As part of RIM‟s strategy in India, the company has been building its resources in order to

support the growing opportunities. RIM‟s Chief Information Officer Robin Bienfait will be in India to meet with major

BlackBerry customers as well as a variety of current and prospective business partners, the company said.

RIL to enter financial services biz, floats JV with DE Shaw Reliance Industries announced that it will set up a joint venture with D E Shaw Group to establish financial services busi-

ness in India. The christening of the joint venture, its shareholding pattern and the areas of financial services it intends to

enter are being finalized. This joint venture will incorporate D E Shaw group's investment and technology expertise with

Reliance operational knowledge and extensive presence across India to offer a comprehensive array of financial services to

the Indian marketplace.

Graveyard Market– The period near the end of a prolonged bear market. In a graveyard market, long-time inves-

tors have taken large losses, while new investors prefer to stay liquid by sitting on the sidelines and keeping their money

in cash or cash-equivalent securities until market conditions improve.

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Top tax evader Hasan Ali fears survival threat Hasan Ali Khan, 53, arrested by ED sleuths for stashing away huge amounts of black money in banks abroad fears threat to his life from Kolkata-based businessman Kashinath Tapuriah and his partner RP Goenka . The Enforcement Directorate (ED) arrested Tapuriah in connection with money-laundering and tax evasion charges. Meanwhile Hasan Ali is also facing a Rs 70,000-crore tax demand notice from the income tax department.

At Infosys, Kris may step into Nilekani's boots Kris Gopalakrishnan will most likely take over as co-chairman, a position lying vacant after Nandan Nilekani quit in June 2009. Gopalakrishnan became the Chief Executive Officer (CEO) and Managing Director (MD) of Infosys on June 22, 2007. S D Shibulal, the current Chief Operating Officer, may become the new MD and CEO of the company. This is expected to be a precursor to finding a suitable non-executive chairman for the company when N R Narayana Murthy retires in August this year.

Premji opposes making CSR spending mandatory “A law to make it mandatory for companies to spend 2 % of their average income of three years on corporate social responsibility initiatives is certainly not a good idea”, said Azim Premji. CSR cannot be driven by legis-lation, the Wipro Chairman said at a joint press conference in New Delhi with Warren Buffett and Bill and Melinda Gates. Premji believes that the legislation would be misused with regard to branding and advised the government to make the proposal a guideline rather than a mandate.

Government to allocate 2500 crore to Micro, small and medium enterprises under TUFS The governmentt said that it will create Rs 2,500 cr corpus for technology modernization of the micro, small and medium units by the next year. At present, only textiles sector is availing these benefits under the Technol-ogy Upgradation Fund Scheme (TUFS) wherein the units get 5% subsidy on loans, for upgrading technology, from the government. Uday Varma , Secretary Ministry of MSME stressed the need to couple upgraded tech-nology with adequate and timely credit. The MSMEs account for 45% of the country's manufacturing output and 40% of exports.

Radiation soars at Japan nuclear plant Radioactivity in water at reactor 2 at the quake-damaged Fukushima nuclear plant has reached 10 million times the usual level. Workers trying to cool the reactor core to avoid a meltdown have been evacuated. Earlier, Ja-pan's nuclear agency said that levels of radioactive iodine in the sea near the plant had risen to 1,850 times the usual level. Leaking water at reactor 2 has been measured at 1,000 millisieverts per hour - 10 million times higher than when the plant is operating normally. The UN's nuclear agency has warned the crisis could go on for months.

India sends Aussies home; all set to play Pakistan in the semis India beat Australia by five wickets to set-up a World Cup semi-final date with Pakistan. Once again it was Yu-vraj Singh, who charted India's win with an all-round performance against the Aussies at the Sardar Patel Sta-dium in Motera, Ahmedabad, on Thursday. First he returned with bowling figures of 10-0-44-2 and then scored an unbeaten 57 to help India beat the four-time World Cup champions in front of a packed Motera stadium chasing 261 runs.

Ponting sees Tendulkar for inspiration Ricky Ponting is still defying calls for him to retire as Australia captain, saying on his return from a World Cup quarterfinal exit that he is thinking more of a „Tendulkar-sort rebirth‟. Demands for Ponting's resignation were louder before his gritty hundred in the quarterfinal loss to Tendulkar's Indian squad, which still ensured Austra-lia's worst World Cup run in two decades. He says, "I guess with even making some runs in this last game that I've played and getting that really good feeling back about my batting again, hopefully it might be a bit of a kickstart for a Tendulkar-sort rebirth, if you like."

Pulling In Their Horns - A collective shift by investors toward a less bullish stance after a substantial run-up in

prices of financial assets. Since it involves a lesser degree of buying by investors, or even active selling by them, asset

prices generally decline as investors pull in their horns in favor of a more bearish stance.

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OPINION FORUM– TIME TO ANSWER A BULLET WITH A BULLET?! - RAJAT MONGA

Munich. The capital of Germany. It is also the name of a critically acclaimed movie by Steven Spielberg. For those

who have not seen the movie it is a true story. A story of how a country made sure that it avenged the killing of its

innocent. It started on the night of September 5 1972 at Games village of Munich Olympics. 8 masked men from a

little known organization Black September entered the village and took 9 Israeli athletes hostage. Botched rescue

mission lead to killing of all the athletes and the terrorists at the airport. What followed was the basis of the movie.

Israel created a team of its top Mossad agents who hunted down all the top members of this terrorist group across

Europe and Africa who were involved in masterminding this attack.

Fast forward to 2011. On a sunny day in Lahore, Pakistan in February, taking part in a rally to mark Kashmir Soli-

darity Day, chief of Jamaat-ul- Dawa (JuD) , the front for Lashkar-e-Taiba, spoke and threatened that they will

„teach India a lesson through Kashmir‟ and that „India better leave Kashmir or they will destroy the country‟, all of

this in front of the media as police stood guard. Something on similar lines was said by Syed Salhuddin, head of

Hizbul Mujahideen, a couple of days later in a rally in Karachi.

These two situations have a lot more in common than you can think. Both the countries are battered by terrorism

and both knew who was behind them. But one country decided to go and book the perpetrators of the crime against

its people while the other country (India) keeps on sending dossier asking for their

arrest and trial and we know how far it has succeeded.

So should India make assassination as one of the important part of its policy to fight

terrorism?

The exact term for this would be Target Killings. Assassination is „to murder (a usu-

ally prominent person) by a sudden and/or secret attack, often for political reasons‟

while target killing is the intentional killing–by a government or its agents–of a civil-

ian or „unlawful combatant‟. In the book, The Law of Armed Conflict: International

Humanitarian Law in War, Professor Gary Solis, a reputed academician writes:

„Assassinations and targeted killings are very different acts‟. The use of the term as-

sassination is opposed, as it denotes murder, whereas the terrorists are targeted in self

-defense, and thus it is viewed as a killing, but not a crime. Even the Third Geneva

Convention immunity against killing is lost if you are a terrorist.

So why does India not use this as a weapon against terrorism? With it not being crime, India will not be the first

country to do so. From USA in Afghanistan where its drones pick and kill top Al-Qaeda men to Israel it has a long

history; target killing is used by countries across various regions. India has a very good Intel about the most wanted

criminals and terrorists of this country. We know where Dawood Ibrahim lives in Karachi, a magazine few years

ago printed pictures of the mansion, and we know where Hafiz Saeed and Salhuddin live, we know where are the

training camps of these organizations yet we do nothing but „request‟ them to be handed over. Does US request

Pakistan to handover Taliban leaders? Does Israel request Palestine to hand over Hamas leaders?. No they do not,

because they know this will never happen so drones and mossad do the work for these countries. India has long said

that it is against bumping off criminals because they go against the fundamentals and conscious of this country. But

does a common man travelling in a train or worshipping in a temple care about all this. He just wants to be safe in

his country and the government has to do whatever it takes to make that possible. The truth is India neither has the

political will nor the set-up to carry on these kinds of operations. The less we talk about RAW, India‟s premier in-

telligence, the better. This agency is run by people with no accountability and is used to settle scores. Compare this

to Mossad-the Israeli secret service which has killed some of the top Hamas leaders.

I agree that this policy comes with danger. There is always a risk of someone even more dangerous taking over the

reins once the leader is killed. Also the martyr status of the killed can be used to further entice violence against the

country. But are we any safer than we already are if we do not take these chances.

It is time India and Indian politicians moved over the obsession of idealistic statesman status they want in world

politics and do whatever has to be done to keep its people safe. It is time we strike fear in heart of these terrorist and

tell them that they will be hunted and killed if they dare threaten our country. US, Israel does; so what stops us? It is

time to bring the Dawoods and Hafeez Sayeeds to justice!

Suicide Pill – A defensive strategy by which a target company engages in an activity that might actually ruin the

company rather than prevent the hostile takeover. Also known as the "Jonestown Defense."

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So should India make

assassination as one of the

important part of its pol-

icy to fight terrorism?

There is always a risk of

someone even more dan-

gerous taking over the

reins once the leader is

killed.

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BRAND TRACK– BRANDS THAT LIVE IN OUR MINDS! -SUPRIYA MAMGAIN

Marketing involves having a knack to take risks and moving to a territory that no one has tested before.

The risk taking ability gives a marketer the first mover advantage. This has been showcased by two Indi-

ans Mr. R.S. Agarwal and Mr. R.S. Goenka, who in the seventies took the risk to enter the market of

cosmetic products which was highly dominated by multinational companies.

There are few brands that were born by taking such risks- Navratna oil, Fair and Handsome and Boro

Plus. I remember using Boro Plus as an anti septic on my wounds and I am pretty sure that many of you

have used it in your life too! Thanks to the use of A-list brand ambassadors, cool taglines, regular adver-

tisements and approachability, these three brands have acquired the shelf space in most of the Indian

households. I have used the word approachability as these brands connect to the Indian middle class

family who want affordable products and do not compromise on quality.

These three products belong to the Emami group which was started by the two individuals whose name I

have stated earlier. These two entrepreneurs definitely created brands that became market leaders in the

category of products which they were serving.

These three brands have one thing in common –positioning. Positioning is the way a company wants its

product to be seen by its consumers. Navratna oil is a market leader in its category as it positions itself to

be cooling oil made up of various ayurvedic components. India is a land where ayurvedic medicines

have been used since decades, it is a country where people still use homemade paste of haldi (turmeric)

and dahi (curd) to enhance their beauty and skin. Therefore, Navaratna oil tar-

geted those millions of middle class Indian customers who believed in the

magic of ayurvedic components.

The brand has raked in actors such as Amitabh Bachan, Govinda, Sharukh Khan

and Chiranjeevi who are famous actors of Indian cinema. Spending on these

brand endorsers was a smart move by Emami as these actors provided „Reach‟

required by any brand to connect to the people. The catchy tagline „Thanda

thanda cool cool‟ had a „desi‟ feel to it, which instantaneously connected with

the Indian audience. Indeed smart positioning helped the brand which enjoys a growth rate of 11%, be-

ing worth of more than 100 crore!

Fair and Handsome is another brand of Emami group, that highlights the ability of a company to enter

into a markets where no one has entered before! FMCG companies have long realized the aspirational

needs of Indian women consumers to look fairer, but Emami created a brand in a category which had not

been touched before. Fair and Handsome was launched that created its own niche market which served

to the aspirational needs of the Indian men who were increasingly getting conscious about the way they

looked! As marketers say the need is always there you just need to recognize it!

The Emami group has given us brands that have created a niche market for themselves with persistent

marketing and clever positioning. In a market crowded with products if the positioning is done effec-

tively half the battle is won by the marketer! The difference in the way a company wants its product to

be seen by the consumer and the way a consumer actually perceives the product is one of the most cru-

cial reasons why a lot of products fail to connect with the consumers! In Emami‟s case, they got the po-

sitioning right as the turnover of the three brands stands more than Rs.750 crore!!

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Fair and Handsome is

another brand of Emami

group, that highlights the

ability of a company to

enter into a markets where

no one has entered before!

The brand has raked in

actors such as Amitabh

Bachan, Govinda, Sha-

rukh Khan and Chiran-

jeevi who are famous ac-

tors of Indian cinema.

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QUICK BITES- NEWS THAT CAN’T BE MISSED ! - VASUNDHARA ARORA Big Shots…

The most powerful bank of US, Goldman Sachs Group; fell to the 10th position in US deal advisory rankings from

2nd position in 2010 Q4.

Colgate-Palmolive CEO receives a 2010 pay package valued at about $14.2 million, a 2% decrease on y-o-y ba-

sis.

Jan Ake Jonsson, who has worked for the carmaker Saab for 40 years and as CEO for the past six years, is report-

edly stepping down following ongoing losses and falling sales.

Company Talks… India Infoline got the final nod from SEBI for its mutual fund business.

Google‟s $125 million deal to digitize books rejected by the fed judge citing copyright, antitrust and similar con-

cerns of profiting from books without the permission of copyright owners.

TATA signs on a leading scientist from MIT to make his research operational for generating cheap power form

water.

Reliance Venture Asset Management and Mumbai Angels quit their stake in Dhama Apparel Innovations due to

the backward integration plans of the firm.

US based Sara Lee Corporation will pay INR 177 crore to Godrej Household Products Ltd. To terminate sale of

Kiwi shoe care and Kiwi Kleen brands in India and Sri Lanka.

India‟s largest iron ore producer; NMDC, is set to sign a deal with Deloitte as its financial adviser for the pur-

chase of three Russian coal mines.

Mahindra & Mahindra will invest over $67 million in a new tractor plant in Andhra Pradesh which will have a

capacity of 100000 vehicles.

GMR group chairman, GM Rao, pledged 1540 crores to his charitable foundation which is equivalent to Rao‟s

personal share in the business.

SEBI to raise $5 billion from overseas market through dollar bonds to meet increasing demand for corporate

loans.

CAG of India found faults with ONGC‟s most expensive acquisition of Imperial Energy as firm lost roughly INR

1182 crore between Jan‟09-March‟10 as production fell short of estimates.

Ford eyes South East Asian region; the fastest growing region by its eight new vehicles over the next five years.

Economy Speaks… Euro pares gains towards the end of the week on debt concerns, as analysts feel that least possibility of worsening

European debt problem signals no further falling for Euro.

Japan auto parts production disruption can intuitively stall the global production up to 35%.

Bernanke to hold press briefings to discuss his thought process and next steps about the monetary policy so as to

dispel worries among citizens and avoid volatility.

Japan auto parts makers may move plants to China to resume their interrupted operations.

Global steel production rose by about 10% y-o-y in February, but declined 8% sequentially.

PE investments in Indian Retail Industry on a steep rising trend since four years.

SEBI plans new regulations to bring transparency in the INR 6.75 trillion Mutual Fund industry to avoid mis-

selling of funds by errant distributors; who presently are not regulated by any set standards.

The Captains of the Ships…

CFO of TCS – S Mahalimgam

CFO of Bank of America- Alvaro De Molina

CFO of Goldman Sachs- David A Viniar

CFO of L&T – Mr. Deosthalee

CFO of Wipro – Manish Dugar

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FOCUS OF THE WEEK– TED (TECHNOLOGY, ENTERTAINMENT AND DESIGN) - SANDEEP ASRANI

Reverse Takeover-A reverse takeover or reverse merger (reverse IPO) is the acquisition of a public company by

a private company so that the private company can bypass the lengthy and complex process of going public. The transac-

tion typically requires reorganization of capitalization of the acquiring company.

THE IBS TIMES

TED (Technology Entertainment and Design) is a global set of conferences owned by the pri-

vate non-profit Sapling Foundation, formed to disseminate „Ideas Worth Spreading‟. The goal

of the foundation is to foster the spread of great ideas. The core to TED is a belief that there is

no greater force for changing the world than a powerful idea. It aims to provide a platform for

the world's smartest thinkers, greatest visionaries and most-inspiring teachers, so that millions

of people can gain a better understanding of the biggest issues faced by the world, and a desire

to help create a better future.TED was born in 1984 out of the observation by Richard Saul

Wurman of a powerful convergence between Technology, Entertainment and Design. The first

TED included demos of the newly released Macintosh computer and Sony compact disc. The

list of presenters later broadened to include scientists, philosophers, musicians, religious lead-

ers, philanthropists and many others. All these inspiring talks of

real life experiences and learnings were confined to just 18 min-

utes of talk maximum. This became an annual event which has

been held since 1990 in Monterey, California and today it is

held in Long Beach and Palm Springs in the U.S. This caught

the attention of Chris Anderson, a former British computer jour-

nalist and magazine publisher. He met with Richard Wurman in

2000 and struck a deal. Today Chris Anderson is the curator of

this inspiring initiative. From an All Invite list of attendees to a

global 50 billion open source viewers, it can all be credited to

Chris. Not just the viewers but also the content broadened to speakers across the globe, no

matter what their field of expertise was. This helped it add more meaning to its motto. Since it

has so many viewers the impact that TED creates today is account less and boundary less. TED

has many verticals today such as TED Conference, TEDGlobal, TEDActive, TEDIndia, TED-

Women, TEDPrize, TED Talks, TEDFellows, TED Open Translation Project. TED uses the

digital media to distribute its talks free of cost. It has become a free application on the iPhone,

iPad, WindowsPhone, etc. Though it has got a lot of positives there have been some criticism

to it as well. Some accuse it of being biased to only those who have access to the internet and

some blame it on the content security, as this is potential intellectual property of its speakers.

Today, TED is best thought of as a global community. It is a community welcoming people

from every discipline and culture who seek a deeper understanding of the world. It is a power-

ful knowledge sharing platform all together. It is translated in more that 250 languages and de-

livered in more than 50 languages as it does not believe in just sticking to the English lan-

guage. This platform is an inspiring tool as it involves speakers‟ real life experiences and helps

its listeners in thinking and reshaping the future of the people who are immediately around

them and hence creating a global impact.

The Core to TED is a

belief that there is no

greater force for changing

the world than a powerful

idea.

Today, TED is best

thought of as a global

community. It's a com-

munity welcoming people

from every discipline and

culture who seek a deeper

understanding of the

world.

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MARKET WATCH - SAINYAM KUMAR

A whooping 1000 points surge in the Sensex and Nifty crossing the psychological mark

of 5400 followed by 5500 and just when the „pundits‟ were saying that this is the resis-

tance level, it even breached 5600 on the last trading day of the previous week. With the

negative news of Middle East crisis followed by the Japanese tremors coming to a halt,

the markets rallied to as much as 5.2% from the downward movement that it had been

going through. What will be interesting to see is that how will the markets react now as

the inflation has come back into the picture rising to 10.05% for the week ending March

12, 2011 from 9.42% in the previous week?

Talking about the indexes, all of them obviously ended in green with BSE-Realty gain-

ing the most after shedding a lot over the past one month. BSE-IT gained a lot on the

back of the hiring figures released for the year that reveal that the industry hired around 2.5 times more people on y-o-y basis. This

data has a direct relation with the order pipelines of the industry‟s heavyweights growing.

Ranbaxy lost around 6% on the back of an unanticipated lawsuit filed against it by Mylan Inc. Mylan has claimed that Ranbaxy is

not eligible for the exclusive marketing of generic version of Lipitor (world‟s best selling drug) from November because of manu-

facturing violations at two of its production units in India.

Finally the days for the steel makers have arrived. After almost half a decade of soaring prices, the iron-ore prices came down for

the first time this week on the back of the demand going down as Japanese firms (they control 13% of world‟s production) have cut

down the production.

The Movers & Shakers of the Week

Global Cues: All the global markets witnessed one of the brightest weeks in the recent times as all ended in green. Led by India, the surge was

contributed by both the Western and the Asian markets equally and thus the movement was +3.1% worldwide. The data about the

jobless claims in US has pointed out to the fact that the unemployment rates are going southwards.

.

SURGES %Change DOWNFALLS %Change

TATA COMMUNICATION 12.1 CENTRAL BANK -6.8

DLF LTD 10.8 JET AIRWAYS -6.4

MAHINDRA FINANCE 10.5 RANBAXY LABS -6.1

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MARKET WATCH

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Disclaimer- This newsletter is just a compilation of news from various sources. Thus, readers are expected to cross-check the facts before

relying upon them. Though much care has been taken to present the facts without error, still if errors creep in, necessary feed

back will be always welcomed. Editors will not be responsible for any undertakings. The newsletter is not meant for sale and

hence, no part of the newsletter should be used without the prior permission of the editorial team.

Sources- The Economics Times, The Hindu Business Line, Times of India, Business Standard, Financial Ex-press, Financial Times,

Business Week, Business World, The Economist, Wall Street Journal, Bloomberg, Reuters, Moneycontrol.com, Vccircle.com,

yahoofinance.com, Business Today, India Today, Investopedia.com, Wikipedia.com, DNA, The Deccan Chronicle, The Hindu,

The Tele-graph.

EDITORIAL TEAM-

NITIKA THAKUR, NITIN ARORA, RAJAT MONGA, SAINYAM KUMAR, SANDEEP ASRANI, SANYA DHAWAN, SHILPA MALHOTRA, SUPRIYA MAMGAIN, TANIYA BANERJEE, VASUNDHARA ARORA.

BUSINESS JARGONS BY– NITIKA THAKUR

21 March 2011

22 March 2011

23 March 2011

24 March 2011

25 March 2011

Sensex 17,839.05 17,988.30 18,206.16 18,350.75 18,815.64

Nifty 5,364.75 5,413.85 5,480.25 5,522.40 5,654.25

DJIA 12,036.53 12,018.63 12,086.02 12,170.56 12,220.59

HangSeng 22,685.22 22,857.90 22,825.40 22,915.28 23,158.67

FTSE100 5,786.10 5,762.70 5,795.90 5,880.90 5,900.80

Gold ($/oz.) 1,427.10 1,428.80 1,438.60 1,430.80 1,430.20

Crude($/bl) 110.10 110.23 111.09 110.81 -

INR v/s USD 46.3100 45.8896 45.7201 45.6624 45.4597

INR v/s EURO 65.7028 65.0838 65.0094 64.6548 64.2050

Senior Bank Loan - A debt financing obligation issued by a bank or similar financial institution to a company or

individual that holds legal claim to the borrower's assets above all other debt obligations. The loan is considered senior to

all other claims against the borrower, which means that in the event of a bankruptcy the senior bank loan is the first to be

repaid, before all other interested parties receive repayment.

THE IBS TIMES

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