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ISSUE - 131 8th NOVEMBER [TUESDAY]
SYNOPSIS - SWATI VERMA
The IBS Times comes again this week to enrich you with the happenings across the globe. We
try to touch on issues affecting people globally; bringing in our own perspectives to make you
think in an alternative context. Gear up for yet another scintillating read.
One issue that has always been a concern for India is its relations with Pakistan. Though Paki-
stan has „awarded‟ India with the title of the „Most Favoured Nation‟ , the context seems to be
suspicious– indicating it‟s consideration of India as a good partner for bilateral trade and not the
other obvious reasons that we wish it should have been. We bring the story in a new light
through the Cover Story this week.
Chanel– a dream brand for every girl is in the spotlight this week. How this brand that com-
menced it‟s journey in Paris turned itself into a global brand; making fashionistas around the
world awestruck is the focus of Brand Track this week.
Sports brings worlds together, but that does not seem to be the case with India as even now each
sport and sportsperson is not getting their „due‟ as they say. Sponsorship is a major concern as
each sport is not getting the credit they deserve ;while some are glorified beyond limit-much to
the dislike of others. This is where we try to view the sole reason that could prove to be a doom
for Indian sports through the Opinion Forum this week.
Nusli Wadia– the creator of the famous Wadia Group that has brands like Bombay Dyeing under
it‟s umbrella is the protagonist of our Focus Of The Week, this week. We try to see how this
man singlehandedly established an empire that the world talks about.
Moreover we have our regular sections of Fast Track, Quick Bites, Market Watch and a special
dose of News @ IBS to give all of you a glimpse of the happenings last week on campus!
Hope you enjoy it! Cheers Swati Verma
SYNOPSIS 1 OPINION 5 FOCUS 8
COVER 2 BRAND 6 NEWS @ IBS 9
FAST-TRACK 3 QUICK BITES 7 MARKET 10
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COVER STORY– DECIPHERING OUR NEIGHBOUR’S INTENTIONS! -AKSHAY AGRAWAL Currently red faced with three of it‟s A list Cricketers namely Salman Butt, Mohammed Asif,
Mohammad Amir facing jail terms ranging from 12 to 36 months for their alleged (read now proven)
role in the Spot Fixing Scandal, with the „crooks‟ facing heavy flak from their native bases, the Inter-
national Cricket Council, the Pakistan Cricket Board and boards for cricket all over the world are
bringing disgrace to the „Gentlemen‟s Game‟. You must have acquired a fair idea on the „Neighbour‟
in contention.
On November 5th, 2011 the Pakistan Government decided to implement the process to grant India the
status of “The Most Favoured Nation (MFN). Hold your horses! It implies most favoured nation for
bilateral trade and not other obvious reasons. Mr Ranjan Mathai, Foreign Secretary for India has
quoted that “this move, when actually in place could impact the overall intra-South Asian Regional
Cooperation trade”. He also confirmed the actual intent of the statement by the Pakistan Cabinet was
that the Ministry of Commerce now had the mandate to take forward the process of normalisation of
trade relations between India & Pakistan. This was finalised without an exact time frame, since it
was aimed at being a gradual normalisation process.
Following the above message, Pakistan‟s Prime Minister Mr. Yousaf
Raza Gilani was quick to clarify that the move to grant India a sym-
bolic trading status was simple, and involved none of the military busi-
ness. Thus the constant race that both the nations continue to pursue,
that is, each engineering newer and more sophisticated arms (read mis-
siles) with extended ranges was not a part of the above pact.
The move basically stressed that only the business communities and
stock exchanges of Pakistan and India are the legitimate stakeholders and both needed to be on board
as the political parties of the ruling coalition‟s of both the nations already were.
On a core analytical level, the significance attached to the above argument should be that of indiffer-
ence, since Pakistan has already granted the same to over a hundred nations before actually proceed-
ing to oblige India. Contrary to all the positivity around this recent news, senior civil and military
officials held meetings at the foreign ministry to discuss the implications pertaining to the above
move. The meetings were chaired by Foreign Minister Hina Rabbani Khar and attended by various-
military and intelligence officials.
Issuing a statement in Lahore, Gilani concentrated on the commerce ministry‟s role as Pakistan and
India begin with the nitty-gritty‟s of negotiations, the Pakistani PM added that the ministry would
need to take important decisions independently, de-coupled from any military connotations, yielding
mutually beneficial and lasting agreements. The main blessings will be abolition of discriminatory
higher pricing and duty tariffs, the main barriers in the path to increased exports. It was also added
that interests of both, the local and domestic industries would continue to be protected.
Writing and researching for this article, only one trivial (you may call it frivolous) question pops up
in my mind, when will these two nations realise the true potential that they withhold as one entity in
terms of trade and culture in South East Asia?
May be our descendents would be lucky and endowed enough to see light at the end of this dark tun-
nel!
THE IBS TIMES
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He also confirmed the
actual intent of the state-
ment by the Pakistan
Cabinet was that the
Ministry of Commerce now
had the mandate to take
forward the process of
normalisation of trade
relations between India &
Pakistan.
Issuing a statement in La-
hore, Gilani concentrated on
the commerce ministry’s role
as Pakistan and India
begin with the nitty-gritty’s
of negotiations.
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FAST-TRACK NEWS - KRITIKA SETHI Pranab Mukherjee explains about petrol hike After Prime Minister Manmohan Singh had ruled out any roll back in petrol prices, Pranab Mukherjee explains about
the reasons for the price hike. He is optimistic about the differences with ally Trinamool Congress. When asked
about the explanation behind the oil marketing companies taking step of oil hike, he replied that he will reserve his
comments on this issue for right time. Trinamool congress claimed to withdraw from coalition and the issue will be
addressed by PM.
LIC Housing Finance ltd to float Rs 500 crore realty fund
V.K. Sharma - Finance Chief Executive officer of LIC Housing Finance which is a subsidiary of Life insurance Cor-
poration of India said that they will float a Rs 500 Crore realty estate venture capital fund within 2 to 3 months. All
the regulatory approvals are duly received. Moreover, revision of interest rates in accordance with RBI hiking policy
will take place soon.
Another colossal loss– Bhupen Hazarika passes away
The legendry singer and composer died this Saturday, 5th November due to multi organ failure. He was admitted in
Kokilaben Dhirubhai Ambani hospital and was going through the treatment from June 29th. His companion Kalpana
Lajmi was beside him when he died.
Tallest tower to be built in Delhi-NCR in joint venture by Raheja Developers
Realty company Raheja Developers has entered into joint venture with Dubai based Arabtec Construction to build
tallest tower in Delhi and Gurgaon. Almost 63% stake in project is held by Raheja Developers and rest 37% with
Arabtec Construction. Naresh Raheja said that they aspire to meet international standards of construction.
Can food inflation be indicator of growing prosperity
Prime Minister Manmohan Singh said that inflation is indeed a problem but the prices of grain are relatively constant
over a period of time. The reason for inflating prices of vegetables, eggs, fish i.e. secondary and tertiary food items is
the excess of demand over supply. Prosperity is evident whereby there is an increase in national income by 8% per
annum compared to 1.6% increase in population per annum.
Rahul Gandhi may be Congress working President soon
Congress General Secretary, Rahul Gandhi is likely to be appointed as working president to help his mother and
party President –Sonia Gandhi. Party expects great transition in the party functioning due to the delegation of higher
responsibility to him. Sonia Gandhi who is expected to have been suffering from cancer has returned from US after 3
months, is keen in delegating the administration duties.
Team Anna members phones are getting tapped Team Anna member‟s phone are being tapped as alleged by Arvind Kejriwal . But the suspicion is not backed by any
evidence only the incidents are arousing such doubts. One of the incidents quoted by him are some member called
Anna for meeting him at Raj Ghat as they wanted to talk and sit in peace there. To their surprise they got a call from
police regarding Anna‟s visit there though matter was not disclosed to anyone.
Beggar thy neighbor policy – That attempts to cure a country's balance of trade, inflation, and unemployment problems by practices
that harm the economic interests of its trading partners. It can take the form of import quotas, raising tariffs, devaluing currency etc.
THE IBS TIMES
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.
Greek PM wins crucial vote
Greek PM, George Papandreou survived a crucial parliamentary confidence vote. A total of 153 law makers
including all MPs from Papandreou parliamentary faction and one former faction member backed the govern-
ment. He promised to broaden the coalition government and discuss the candidacy for PM post with new
government.
MFN status not granted to India as said by Gilani
Pakistan PM Yousif Raza Gilani said that Pakistan has not granted the „Most Favoured Nation‟ status to In-
dia. The Cabinet has only given its approval in principle to move forward on the issue (of MFN) and permit-
ted the Ministry of Commerce, which is actively engaged in trade talks with New Delhi, to negotiate with it
trade-related issues. Gilani's remarks came against the background of a flip-flop by the Pakistan government
on the issue of whether India had been granted MFN status.
Dubai plans to donate used laptops
Three organisations in Dubai have launched a campaign through which the public will be encouraged to do-
nate used laptop computers which will then be recycled and donated to educational and social charitable insti-
tutions. The campaign by the name of 'Tadweer' has been launched jointly by the Dubai Municipality, Emir-
ates National Oil Company and TNT Express UAE.
India v/s West Indies- team India gears up
After losing their No. 1 Test crown in abysmal fashion in England, India is now geared up for a three-match
Test series against the West Indies starting at the Ferozeshah Kotla. There is lesser than usual hype surround-
ing the series, partly due to it being a series against the West Indies and also because it is the end of a year
which saw the World Cup, IPL, Champions League and then the England ODI series in the country. But irre-
spective of the public perception, this series is important for both teams, albeit for different reasons. If India
hopes to put the nightmare 0-4 whitewash of England behind them, West Indies would want to work on the
recent Test series win in Bangladesh.
Milind Kumar shines in Ranjhi Trophy
Milind Kumar‟s first Ranji Trophy match got extra special when he not only notched up a slow but effective
half-century, but also took Delhi to a commanding position over Haryana after the second day of their Elite
division match at the Roshanara Club Ground New Delhi .After Haryana's first innings folded at 293, Delhi
ended the day with 214 runs on board for the loss of three wickets.
Pakistan to have its own inquiry over the fixing scandal
Pakistan Cricket Board plans to hold an internal inquiry into the circumstances that led to the involvement of
its three jailed players in the spot-fixing scandal. The new Chairman of the board, Zaka Ashraf made it clear
that it was surprising that the players got involved in the scandal despite the PCB sending anti-corruption of-
ficers to England with the team. Ashraf, who replaced Ijaz Butt as PCB Chairman last month, said the board
would wait to get the full judgment of the Southwark Crown Court in London on the spot-fixing trial before
starting its own inquiry.
Stripped Bond– A stripped bond is a bond that has had its coupon payments and principal repayment stripped into two separate components and
sold individually. One party will receive the principal at maturity (zero-coupon bond) and the other party will receive the fixed-interest payment over the life of
the bond in the form of a stream of coupons. stream of coupons.
THE IBS TIMES
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OPINION FORUM–SPONSORSHIP-A BIG ISSUE IN INDIAN SPORTS - GAURAV MALIK
It dates back to history that sports have been an integral part of a life of a human being. According to our Vedic era sports were
considered indispensable without which the human being was not complete and did not attain full realization. Even our holy
books Mahabharata and Ramayana gives impetus on indulging in Chariot –racing, horse man ship ,archery etc for a human be-
ing to be qualified as a warrior or what we know as „Kshatriya‟
But times have changed now and in today‟s fast moving world people are getting more indulged in business or profit making
activities in sports and have started treating sports as a mode of business and the whole purpose of enjoyment, recreation and
building physical fitness have somewhere lost in the glittering and lightning aspect of money involved. Seeing the recent instance
of the Formula Grand Prix held at the Buddh International Circuit evidenced that the Indian corporate is only concerned with
making huge margins of profit and they are least concerned with improving the quality and standard of sports in its own mother
country.
The bone of contention is that if the businessmen splurge so much of the their
money on sports like Cricket and other western sports then why should they not
spent on promoting other important Indian sports like football, badminton, tennis,
basketball, kho-kho kabbadi etc. Leaving rest aside even our national game hockey
has not got its due even after 64 years of gaining sovereignty. Even a child would
not know what hockey is all about but he would certainly know what the F1 Race is
all about as he is exposed to F1 advertisement or hoardings he would see on the
sidelines. That is where the actual problem lies the exposure or the kind of attention
other Indian sports should get are not getting it, relating to the plight of our national
game was when our national team players had tried to sell off their team-jerseys in
order to make up the investment to be made up for the tournament to be held riding on the lack of sponsors or promoters, also
players were ready to sell off their medals in order to get rid of their financial deficits as they were unemployed and were not
given their dues let alone respect and appreciation. On the other hand Airtel have spent close to around 1000 crores on Indian
Grand Prix to promote western sports. Next comes football where the situation is even worse as compared to our national game.
Its ranking at the world stage is 160 which in itself describes the pathetic state in which it is at the moment, Non –Cricketing
sports are now coming up mainly because of some personalities like Saina Nehwal, Rohan Boppana,Somdev Devburmann to
name a few priding India by representing it at the interanational level. And who can forget Abhinav Bindra who made us proud
by winning the lone gold medal by winning at the Beijing Olympics and Vijendra Singh and Sushil Kumar making us proud at
the Commonwealth Games 2010.Hence these few names would definitely help in building other non-cricketing sports as they by
themselves came up by spending money on their training and practice and have somehow found some support system so that it
did not hindered in the way of reaching the positions they have attained. Cricket has been the major sport in India considering the
amount of sponsors and advertisers it gets and the amount of attention it gets also does not go well with the development of other
sports in India. The lack of infrastructure and basic amenities have been founded wanting among the non- cricket Indian national
players which have only compounded the problem.. Talking about interest, people were ready to buy tickets of Grand Prix which
was priced at 7000-39000 and the inaugural match of Lionel Messi at Kolkata costing up from 700 to 5120. As compared to
commonwealth games where the range was 50-1000 and then also it was a low turnout .
So every sport in India should be promoted with equal efforts and associations like Indian Olympic Association and Sports Min-
istry should address this issue in a more stringent manner and not just by revising National Sports Bill on 14th October 2011
and should try to map India as a sporting nation on the world stage.
Crowding-out Effect- Any reduction in private consumption or investment that occurs because of an increase in government spending. If the increase in gov-
ernment spending is financed by a tax increase, the tax increase would tend to reduce private consumption. If instead the increase in government spending is not accompanied by
a tax increase, government borrowing to finance the increased government spending would increase interest rates, leading to a reduction in private investment.
THE IBS TIMES
Seeing the recent instance
of the recent Formula
Grand Prix held at the
Buddh International
Circuit evidenced that
Indian corporate is only
concerned with making
huge margins of profit.
These few names would
definitely help in building
other non-cricketing sports
as they by themselves came
up by spending money on
their training and practice
they have attained.
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BRAND TRACK— ―CHANEL – FASHION THAT FOLLOWS LIFE‖!! - AVLEEN KAUR SARNA
When it comes to fashion „Chanel‟ is a legendary name for everyone, but for me it is much more than that probably after
possessing it as the most beautiful gift ever. Famous for quilted bags, little black dresses, and that iconic double C logo,
the French fashion house is one of the most well known and instantly recognizable brands in the world. Chanel S.A com-
monly known as Chanel was founded by Gabrielle „Coco‟ Chanel and the first House of Chanel was established in 1909
when she opened the first millinery shop, called Chanel Modes in Paris. Thereafter, she quickly moved into the high
class Rue Cambon graduating from selling women‟s hats to fashion forward women‟s garments. The Chanel clothing
line revolutionized Paris fashion and the way women around the world related to their bodies. Chanel herself dressed in
mannish clothes and adapted these more comfortable fashions which other women also found liberating. With the release
of the little black dress the House of Chanel exploded with fame. It was one of the defining pieces of the company‟s suc-
cess. The simplistic design of Chanel‟s haute couture was appealing to women who had been stifled by the uncomfort-
able fabrics. Her easy moving, jersey type garments introduced a casual feel to the most elegant suits and dresses. Classic
monochrome designs and polished ladylike styles were common along with the use of
tweed fabrics which began with the traditional „Chanel Suit‟ in early 1920‟s. Most of
her fashions had a staying power and it did not change much from year to year or
even generation to generation.
Chanel also became famous for its jewellery collections and perfumes. The signature
fragrance No.5 was created after a fortune teller told Coco Chanel that her lucky
number was five. It was released on fifth day of the fifth month i.e. on 5th May 1921.
In 1935, the renowned designer owned several buildings, employing four thousand
people in France. Closing the couture house in 1939, Chanel continued to sell per-
fumes and accessories in her boutiques. She made her mark again in the fashion world by releasing a revolutionary
Chanel handbag. The Chanel 2.55 became her personal signature on the world infused with many personal references
from her life. In 1957, a fashion Oscar dubbed Coco Chanel as the most influential designer of the twentieth century.
The Chanel 2.55 has remained the „classic‟ Chanel purse throughout history. Its design simplicity incorporates a chain
strap woven with leather, the double C logo that made the brand famous. Also ,some of them like the classic flap, the
clutch, the tote and the bowling bag were the movers and shakers of the fashion world.
„Simplicity is the keynote of all true elegance‟ was the image that characterized this brand which could be recognized by
each of its products. Her influence touched many American and European designers, who have continued to reinforce her
concept of uncomplicated classics. One such designer is Karl Lagerfeld who took over designing the Chanel couture line
in 1983 and ready to wear collections the next year. He is widely credited with bringing Chanel back to the forefront of
fashion by taking original Chanel designs and tweaking them to appeal to younger customers.
Year 2000 saw the launch of the first unisex watch by Chanel, the J12, a style whose clean cuts and fusion of masculine
and feminine elements formed a revolutionary watch. To please its young followers, Chanel introduced an „In-Between
Wear‟ in 2003.
Today, Chanel operates over 200 boutiques worldwide. The locations are found in upscale shopping districts, upscale
stores, malls and the major airports. Its wide range of products includes the fashion accessories, jewellery, watches, per-
fumes, ready to wear and handbags. Thus in order to be irreplaceable one must always be different 'owing to which
Chanel remains one of the most prestigious and successful fashion houses in the world.
THE IBS TIMES
Thus ‘in order to be irre-
placeable one must always
be different’ owing to
which Chanel remains one
of the most prestigious
and successful fashion
Chanel S.A commonly
known as Chanel was
founded by Gabrielle
‘Coco’ Chanel and the
first House of Chanel was
established in 1909 when
she opened the first milli-
nery shop, called Chanel
Modes in Paris
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QUICK BITES- NEWS THAT CAN’T BE MISSED ! - LISA .T. SAMUEL
Big Shots…
Rahul Gandhi to take over as Congress Chief in weeks.
Barack Obama and congressional leaders huddle behind closed doors as the debt ceiling deadline
looms.
Company Talks…
Apple Inc gave six of its top executives $60 million in company stock after record revenue of
$108.25 billion last fiscal year.
Bharti Airtel quarterly net down by 38%, lowest profit in the last five years.
ONGC profit up 60% on oil prices.
Power distribution Companies face INR 70K Cr. deficit.
HCL Info‟s net slides 74% to INR 12 cr.
CME Temporarily Reduces Margin to Ease MF Global Account Shift.
GM to recall 38,400 Pontiac G8s on airbag issue.
SAIL‟s profitability will remain under pressure until input prices fall.
Philippines Co to buy Murugappa unit.
Maruti Suzuki October sales plunge by 52.2% at 55,595 units.
GAIL eyes trading in Singapore.
Mitsubishi Heavy Industries to set up new subsidiary for power.
Economy Speaks…
Crude oil may fall next week on economic outlook.
Inflation to come down sharply by third week of December 2011 : Kaushik Das
Petrol prices raised by Rs 1.8/liter even as oil companies make profits.
Rupee down by 30 paisa vs. dollar.
Indian firms may land iron mining contract in Afghanistan.
Indian tomatoes flooding Pakistan, pushing up domestic prices.
Gold regains Rs. 28000 mark ,silver up by Rs 2,300.
Illegal mining probe, CBI files FIR against 21 persons.
Natural rubber consumption down by 8 %, output up by 3 % in October 2011.
Cement prices push up costs for real estate companies by 20 %.
Indonesia Seeks 5 LT rice from India.
The Captains of the Ships…
CEO of UBS – Sergio Ermotti
Former Tata and Retail PR Agent – Nira Radia
CEO of Mondial-Serge Corel
THE IBS TIMES
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FOCUS OF THE WEEK- A MAN OF REMARKABLE WILL AND SUBSTANCE - POOJA DALAL
Doji - It is a name given for candlesticks that provide information on their own and also feature in a number of important patterns. Doji
is formed when a security‟s opening and closing are virtually equal. A doji‟s candlestick looks like a shape of the cross, inverted cross or a
plus sign. Dojis when alone are considered as neutral patterns.
THE IBS TIMES
Many descriptions fit this man well. Some call him a businessman, where others opine that he is more of a
political person. His wife calls him „Crisis junkie‟! But what do you call a warrior who fights not just be-
cause he loves it, but because it is his duty, because he thinks he can make a difference, because he follows
principles he believes in. He won‟t give in so easily. He might have been at the heart of many controversies,
but consider any great man ever who did not earn that distinction!
The owner of original South Mumbai textile giant- Bombay Dyeing, Nusli Wadia is an extremely sorted
man. But he was not always so. When sent to a school in England, he faired horribly. But after being called
back, he proved to be a skilled businessman. While Bombay Dyeing was huge, it did not operate through the
retail segment. His biggest contribution was to start the retail stores that would eventually earn a major share
in the future. But apart from his business acumen, his tendency to get involved in controversies did not go
unnoticed.
His life‟s prime crisis were very much public. And that includes the
episode of the clash with his father, and the legendary duel of the
Wadia‟s and the Ambani‟s. Things never came easily to him. At the
very start of his career, his father decided to sell off their business and
settle in Switzerland. According to him India no longer was for the hon-
est, besides they could live a luxurious life in Europe with the wealth
they already possessed. But for the young Wadia, it was not the luxury
of life that counted most. It was the belongingness. He would rather be
in India and out of business than in Europe and a second-class citizen.
With help and support from his mentor J.R.D Tata, he won over his fa-
ther. And he not only stayed in India, but revived Bombay Dyeing as
well.
The second (and a long) tussle with the Ambani‟s started with Dhirub-
hai Ambani winning over political favours, and as Wadia saw it, ensuring that others are out of favour. The
clash became more complex by the day and went on to include top notch politicians of the day. None of them
ever gained out of it.
Apart from the controversial nature of his well-known feuds, it showed his immense will and ability to get
what he wanted. A similar case was the deal for partnering to sell biscuits (Britannia). Every time whatever
he targeted he achieved.
Maintaining good relations with people in power had been a unique gift Wadia was bestowed with. And his
journey of running and expanding his family business has been paralleled with the progress of BJP too. He
believed India to have an opposition party to keep a check on the ruling party and hence from his early days
has been one of the patrons and ardent supporters of the political party, and one of the businessmen closely
intertwined in the political system of the country.
Having done his duties of a good businessman, he has now bequeathed the functioning of his businesses to
his two sons. Jeh founded and operates the budget airline GoAir and Ness is taking Bombay Dyeing further.
So all in all, Nusli Wadia has had a long and satisfying career, controversy prone for sure, but he came out of
them winning. Many „not so fortunate‟ instances of his business life have passed. And what remains of a
man, to be committed to history should be his greater side. He as a human being, has had tremendous faith in
people, in the fairness of the system (of India), and a firm belief that only one‟s motherland can be a rightful
place for a human.
The owner of the Wadia
Group Nusli Wadia’s jour-
ney of running and expand-
ing his family business has
been paralleled with the
progress of BJP
The owner of original South
Mumbai textile giant-
Bombay Dyeing, Nusli
Wadia is an extremely
sorted man
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NEWS @ IBS– ALL HAPPENINGS IN IBS HYDERABAD! - AVINASH ROY
This week continued to be a week with mixed feelings for both senior and junior
batch. On one side where the first year students have somehow started to enjoy
their new sections with new friends and faculty, for the seniors it had been a hec-
tic schedule with interviews and other selection procedures which lasted even till
midnight for almost every day throughout this week. Let us have a look at what
all happened at IBS this week.
STOCKYARD: BHAV MANDI 2011
Club STOCK YARD came up with its flagship event „Bhav Mandi 2011‟ which
turned out to be a grand success for the club. An event which tried to make the up-
coming future managers at IBS Hyderabad feel and experience the real world‟s
open outcry trading system. More than 40 teams turned out for the event with 2
members each. The event had 3 rounds which mainly dealt with trading shares of
different companies in different market scenarios. The unique feature of the game
this year was the addition of concepts like Short Selling and IPO which made the
game even more exciting and electrifying. Ultimately the team who made the
maximum amount of profit during their trade was declared the winner of the
event. Club STOCK YARD would like to convey its heartiest congratulations to
the winners of Bhav Mandi 2011- Karishma Pandit & Aditya (winning team) and
Aditi Ghosh & Vaibhavi Sharma (runners up).
PLACEMENTS 2010-12 Batch
The placement process for the 2012 batch continued with companies like Smart
Cube and I-bexi who visited campus to hire future managers. The total count of
people placed exceeded 200 with many more yet to join the league. Companies
like Tata Capital, Bajaj Allianz General Insurance Company (BAGIC) and Cogni-
zant Technologies are expected to visit the campus next week.
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MARKET WATCH - SWATI VERMA
The world markets had a tumultuous week for the world stock markets. The markets continue to jitter due to continuation of the Greek saga. Except China, entire global pack closed in red. Even the Indian stock markets were down due to increased risk aversion in the west which continues to overweigh markets. Food inflation is at 9 months high currently at 12.2%.Strong demand from rural India and shift in dietary habits due to increased standard of living has resulted in higher prices. Removing the supply-chain bottlenecks can help reduce the food prices . But con-sidering that this is a structural problem it would take time before it gets resolved. However, a good harvest in the coming season and steps to reduce wastage can provide some respite in the near term. Amongst the sectoral indices, Auto and Metals lost considerable ground and were down by 3.4% and 2.5% respectively. Both auto and metal stocks were down on concerns over earnings disappointment from select heavyweights. However, FMCG and Power stocks were relatively flat during the week. The next couple of months can witness an upsurge in the Banking stocks due to the saving rate regime. Moreover infrastructure could also be a sector to look out for.
The Movers & Shakers of the Week
Let us have a look at the key economic developments during the week. India's oil marketing companies have again raised petrol prices by about 3% in order to combat losses on sales of fuel due to higher crude oil prices globally and rupee depreciation. Oil prices were raised by Rs 1.8 per liter. This is the fourth price hike by retailers since January. Following the increase, petrol now costs Rs 68.64 per litre in Delhi, up from Rs 66.64 a litre earlier. The retail selling price in different cities will vary according to local sales tax. However, as the move has created a huge furor amongst allies, the government is considering a partial roll back in prices. In news from the power equipment sector, the Heavy Industries Ministry has announced that it will seek duty on Chinese and Korean imports to level the field for domestic vendors against cheaper imports. As per the ministry, this would be necessary for the domestic equipment manufacturers to raise the capacities. Indian companies that pay local manufacturing taxes have been demand-ing a 14% duty on imported equipments, especially on those from China as Yuan is artificially pegged and puts local players at a disadvantage. Global Cues: The world is facing upheavals due to global recession taking place across the globe. France was down by 6.7% while Germany by 6%. They were followed by UK and Japan which witnessed a downfall of 3.1% and 2.8% respectively.
SURGES %Change DOWNFALLS %Change
JAI CORP LTD 18.3 STERLING BIOTECH
20.8
JSW STEEL 16.4 JAIN IRRIGATION 11.3
ALLAHABAD BANK 16.1 REI AGRO LTD 8.3
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17705.01
17480.83 17464.85 17481.93
17562.61
11955.01
11657.9611836.04
12044.47
11983.24
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31-Oct-11 01-Nov-11 02-Nov-11 03-Nov-11 04-Nov-11
SENSEX
DJIA
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MARKET WATCH
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relying upon them. Though much care has been taken to present the facts without error, still if errors creep in, necessary feed
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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,
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yahoofinance.com, Business Today, India Today, Investopedia.com, Wikipedia.com, DNA, The Deccan Chronicle, The Hindu,
The Tele-graph.
EDITORIAL TEAM-
AKSHAY AGRAWAL, ANKIT SHARMA, AVINASH ROY, AVLEEN KAUR, GAURAV MALIK, KRITIKA SETHI, LISA.T.SAMUEL, POOJA DALAL, SWATI VERMA.
BUSINESS JARGONS BY – ANKIT SHARMA
31 OCTOBER
2011
1 NOVEMBER
2011
2 NOVEMBER
2011
3 NOVEMBER
2011
4 NOVEMBER
2011
Sensex 17705.01 17480.83 17464.85 17481.93 17562.61
Nifty 5326.60 5257.95 5258.45 5265.75 5284.20
DJIA 11955.01 11657.96 11836.04 12044.47 11983.24
HangSeng 19864.87 19369.96 19733.71 19242.50 19842.79
FTSE100 5544.22 5421.57 5484.10 5545.64 5527.16
Gold ($/oz.) 1717.50 1721.40 1730.90 1759.40 1754
Crude($/bl) 107.12 106.35 108.65 107.95 -
INR v/s USD 48.45 48.99 49.52 49.65 49.57
INR v/s EURO 68.52 68.66 68.13 68.22 68.11
Flipping -Term used primarily in the United States to describe practice of buying an asset and quickly reselling (or flipping)
it for profit. Though flipping can apply to any asset, the term is most often applied to real estate and initial public offerings.
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