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DLF to cut debt by Rs 2,800 cr by March next yr: Crisil

Written By Unknown on Kamis, 09 April 2015 | 23.06

The rating agency removed its 'negative watch' from DLF's bank facilities and debt instruments, following the Securities Appellate Tribunal (SAT) order last month quashing the 3 year market ban imposed on DLF by markets regulator Sebi.

Realty major  DLF will reduce its net debt to about Rs 17,500 crore by March 2016, from Rs 20,300 crore at the end of 2014, as company plans to raise funds through various routes to cut borrowings, rating agency Crisil has said.

The rating agency removed its 'negative watch' from DLF's bank facilities and debt instruments, following the Securities Appellate Tribunal (SAT) order last month quashing the 3 year market ban imposed on DLF by markets regulator Sebi. Crisil had placed its DLF ratings on "watch with negative implications" in October 2014 following the Sebi order.

However, the rating outlook on the long term facilities remains 'Negative'," Crisil said in a note filed by DLF to the stock exchanges. The 'negative' outlook is because of high debt level, weak operating cash flow and residual uncertainty over regulatory issues, the rating agency added. Crisil, however, said that SAT's favourable order would enable DLF access capital markets and would support its financial flexibility.

"DLF plans to raise over Rs 2,500 crore through fresh issue of equity shares and real estate investment trusts (REITs) over the medium term," Crisil said. The agency believes that "DLF will reduce its debt (net of liquidity) to around Rs 175 billion as on March 31, 2016 from Rs 203 billion as on December 31, 2014". DLF had a net debt of Rs 20,336 crore at the end of third quarter of 2014-15 fiscal.

Crisil said it would continue to monitor progress of DLF's debt reduction plan, improvement in operating cash flows and outcome of regulatory issues. DLF is the country's largest real estate firm with a land bank of about 300 million sq ft, of which about 50 million sq ft is under construction. The company has a rental income of over Rs 2,000 crore annually.

DLF stock price

On April 09, 2015, DLF closed at Rs 159.35, down Rs 2.7, or 1.67 percent. The 52-week high of the share was Rs 242.80 and the 52-week low was Rs 100.00.


The company's trailing 12-month (TTM) EPS was at Rs 4.83 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 32.99. The latest book value of the company is Rs 93.40 per share. At current value, the price-to-book value of the company is 1.71.


23.06 | 0 komentar | Read More

US jobless claims data point to strengthening labour market

The number of Americans filing new claims for jobless benefits rose less than expected last week and the four-week moving average of claims hit its lowest level since 2000, suggesting an abrupt slowdown in job growth in March was likely a fluke.

Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 281,000 for the week ended April 4, the Labor Department said on Thursday. It was the fifth straight week that claims remained below 300,000, a threshold that is associated with a strengthening labour market.

"The claims data provide no confirmation of the March employment slowdown," said John Ryding, chief economist at RDQ Economics in New York.

US Treasury debt yields rose on the data and also as Greece's 450 million euro loan payment to the International Monetary Fund reduced safety bids for government debt. US stocks edged up at the open while the dollar rose against a basket of currencies.

Job growth slowed sharply in March, with nonfarm payrolls increasing by only 126,000, ending a 12-month stretch of employment gains above 200,000. But with the weakness mostly concentrated in the weather-sensitive leisure and construction sectors, economists downplayed the slowdown.

Last week's tepid employment report joined weak consumer and business spending, industrial production and housing starts data in suggesting the economy grew at a sub-1 percent annual rate in the first quarter.

Activity has been hit by a harsh winter, which is estimated to have chopped as much as seven-tenths of a percentage point from first-quarter growth. A now-settled labour dispute at normally busy ports on the West Coast, softer global demand and a stronger dollar also have weighed on the economy.

Economists had forecast claims rising to 285,000 last week.

A Labor Department analyst said there was nothing unusual in the state-level data. Claims tend to be volatile around Easter because of the shifting nature of the holidays.

The four-week moving average of claims, considered a better measure of labour market trends as it irons out week-to-week volatility, fell 3,000 to 282,250 last week, the lowest level since June 2000.

"If claims remain this low, and we think they might even head lower in the coming weeks, it will be hard to claim there is persistent weakness in the labour market," said Guy Berger, an economist at RBS in Stamford Connecticut.

The Federal Reserve is watching the jobs market as it contemplates raising interest rates this year.

The claims report also showed the number of people still receiving benefits after an initial week of aid fell 23,000 to 2.30 million in the week ended March 28. That was the lowest level since December 2000.

The labour market strength was underscored by a report on Tuesday showing job openings surging to a 14-year high in February and less competition for jobs among the unemployed.

A separate report on Thursday from the Commerce Department showed wholesale inventories rose in February as sales remained weak, suggesting wholesalers might have little incentive to aggressively restock warehouses in coming months.

Stocks at wholesalers gained 0.3 percent after advancing 0.4 percent in January. Sales fell 0.2 percent in February after declining 3.6 percent the prior month.

At February's sales pace it would take wholesalers 1.29 months to clear shelves, unchanged from January.


23.06 | 0 komentar | Read More

Bank of England holds firm ahead of tight UK election

The UK's benchmark interest rate stayed at the record low of 0.5 percent, where it has stayed since March 2009.

The Bank of England kept monetary policy unchanged on Thursday, as investors focused their attention on next month's too-close-to-call general election.

The UK's benchmark interest rate stayed at the record low of 0.5 percent, where it has stayed since March 2009. The central bank also held the size of its bond purchases under the quantitative easing program at £375 billion ($554 billion).

 This month's decision came ahead of a general election in May that is expected to be the closest-fought in generation. Forecasts suggest the Conservatives will emerge as the party with the largest number of seats after the election, but without an overall majority. This would potentially result in another coalition government, like the current Conservative-Liberal Democrat one.

Although the central bank has acted independently of the government since 1997, Societe Generale's Kit Juckes said a policy change this close the election was "unthinkable."

Instead, the bank is seen holding rates until inflation starts to recover, led by wage growth. The country is still in the grip of disinflation (falling inflation), with the consumer price index coming in unchanged in the year to February 2015, down from 0.3 percent in January—and well below the central bank's target of 2 percent.


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Sebi eases foreign investment rules in govt bonds

The Securities and Exchange Board of India, in an email sent late on Wednesday to custodian banks of foreign investors, said the facility to buy and sell government bonds the same day would be applicable on the entire USD 30 billion ceiling on government debt purchases by foreign investors.

India's market regulator has permitted foreign investors to reinvest in government bonds the same day, giving them the option to churn their portfolio, according to four traders with direct knowledge of the matter and an email of the new rules.

The Securities and Exchange Board of India, in an email sent late on Wednesday to custodian banks of foreign investors, said the facility to buy and sell government bonds the same day would be applicable on the entire USD 30 billion ceiling on government debt purchases by foreign investors.

Currently, the entire government bond limit for foreign investors is almost fully exhausted.

Reuters has access to a copy of the email.

"Upon sale or redemption or maturity of government securities the FPIs (foreign portfolio investors) shall be permitted to buy government securities on the same day," SEBI said in the email.

While currently foreign investors get a 5-day window to reinvest government bonds if they have purchased the limit by paying a fee at the auction, the current rules will be applicable when the limits are freely available, traders said.

The limits were auctioned since September when the quota was 90 percent used up.


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IMF's Lagarde sees 'new reality' of mediocre growth

Mediocre economic growth could become the "new reality," leaving millions stuck without jobs and increasing the risks to global financial stability, the head of the International Monetary Fund warned on Thursday.

Christine Lagarde, the managing director of the IMF, first warned in October the global economy could be stuck on a "new mediocre" growth path with high debt and unemployment, unless policymakers act.

"Today, we must prevent that new mediocre from becoming the 'new reality,'" Lagarde said, according to prepared remarks at the Washington-based Atlantic Council.

Speaking ahead of the release of the IMF's economic forecasts next week, Lagarde said global growth this year is similar to last year, while it is slightly better for advanced economies and slightly worse for emerging markets.

In its last forecasts in January, the IMF said the global economy grew 3.3 percent last year, advanced economies expanded by 1.8 percent and emerging markets grew 4.4 percent.

"It is not that overall growth is bad," Lagarde said. "It is rather that, given the lingering impact of the Great Recession on people ... growth is just not good enough."

While loose monetary policies are still needed, especially in the euro zone and Japan, very low interest rates are also breeding financial instability as investors tolerate higher risks and may overprice assets.

Lagarde also warned about the potential negative impact of the sharp appreciation of the U.S. dollar over the past six months, as the Federal Reserve prepares to raise rates while other central banks stay put.

She said some firms in emerging markets are particularly vulnerable as they deal with a higher dollar, lower commodity prices and higher borrowing costs.

As in previous speeches, Lagarde called for policymakers to pursue structural reforms, including infrastructure investment and trade reform.

"Frankly, in too many countries, these reforms have been lagging," she said.


23.06 | 0 komentar | Read More

Zuari to launch open offer on Apr 20 to raise stake in MCFL

The open offer is being launched after an approval from fair trade watchdog Competition Commission for acquiring up to 36.56 percent stake in Mangalore Chemicals and Fertilisers Ltd (MCFL) for Rs 398.2 crore.

Taking forward the takeover battle for Vijay Mallya-led UB Group's fertiliser firm MCFL, Zuari Group will launch an open offer on April 20 to acquire additional 36.56 percent stake in the company, for which it is competing with rival Deepak Fertilisers.

The open offer is being launched after an approval from fair trade watchdog Competition Commission for acquiring up to 36.56 percent stake in Mangalore Chemicals and Fertilisers Ltd (MCFL) for Rs 398.2 crore. Zuari, led by Kolkata-based industrialist Saroj Poddar, had announced a voluntary open offer in December last year as well for acquiring 25.9 per cent stake in MCFL.

The firm has now increased the offer size to acquire up to 36.56 per cent stake. In a regulatory filing today, Zuari group firm  Zuari Agro Chemicals said the open offer will begin on April 20 and close on May 26. The two-way battle is going on between Zuari Group and Pune-based Deepak Fertilisers for a long time for taking over MCFL.

At the end of December 2014, Zuari held 16.47 per cent stake in MCFL while Deepak Fertilisers had 29.05 per cent. Crisis-hit UB Group, which had earlier supported Zuari offer, owns 21 per cent stake in MCFL.

Zuari Agro Chem stock price

On April 09, 2015, Zuari Agro Chemicals closed at Rs 249.40, down Rs 6.6, or 2.58 percent. The 52-week high of the share was Rs 309.50 and the 52-week low was Rs 124.05.


The company's trailing 12-month (TTM) EPS was at Rs 35.28 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 7.07. The latest book value of the company is Rs 191.56 per share. At current value, the price-to-book value of the company is 1.30.


23.06 | 0 komentar | Read More

Satyam Scam: Downfall of Ramalinga Raju

Here's a complete recap of what really happened at Satyam, which led to the downfall of one of India Inc's poster boy Ramalinga Raju and nine others.

Here's a complete recap of what really happened at Satyam, which led to the downfall of one of India Inc's poster boy Ramalinga Raju and nine others.


23.06 | 0 komentar | Read More

Dispose off plea on cap of fixed power charge: HC to Govt

The bench also extended till April 17, the date by which the JV has to submit a bank guarantee of Rs 544.97 crore as well as a payment of about Rs 108 crore under the Coal Mines Development and Production (CMDP) Agreement.

Delhi High Court today asked the government to consider as a representation a power company's plea seeking clarification on whether it intended to cap the fixed charge component of the rate of electricity generated from plants which won coal blocks in the recent auction.

The proposed ceiling would bar thermal power plants, which have succesfully bid for coal blocks, from increasing tariff on the electricity generated by them. A bench of justices B D Ahmed and Sanjeev Sachdeva asked the Power Ministry to consider the petition of Mandakini Exploration and Mining Ltd, joint venture (JV) of Jindal India Thermal Power Ltd (JITPL) and Monnet Power Company Ltd, as a representation and dispose it of by April 15.

The bench also extended till April 17, the date by which the JV has to submit a bank guarantee of Rs 544.97 crore as well as a payment of about Rs 108 crore under the Coal Mines Development and Production (CMDP) Agreement.

With these directions, the court disposed of the plea of the company in which JITPL holds 73 percent stake and Monnet the rest. The JV had successfully bid for and was allotted Mandakini coal block in Odisha. In its plea, the company said it had come to know from reports that the government proposed to cap the fixed charge component of rate of electricity generated by companies which successfully bid for the mines earmarked for the power sector.

Such a move, it said, "will amount to ex post facto change in bidding conditions of coal mines for power sector" and would render the entire project "unviable". The JV company contended that "bidding for a mine was based on the assumption that costs would be factored in the fixed charge".


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Xiaomi sells 2.11 mn phones in 12 hrs; sets Guinness record

The half-day bonanza, which brought in 2.08 billion yuan (USD 335 million) from sales of handsets and other accessories broke the previous record held by Alibaba's Tmall, which sold 1.89 million handsets on Singles' Day in November during a 24-hour event.

China's smartphone giant Xiaomi today said it has set a new Guinness World Record for mobile phone sales by selling 2.11 million handsets in a 12-hour flash sale held to celebrate its fifth anniversary.

The half-day bonanza, which brought in 2.08 billion yuan (USD 335 million) from sales of handsets and other accessories broke the previous record held by Alibaba's Tmall, which sold 1.89 million handsets on Singles' Day in November during a 24-hour event.

"Good news: Xiaomi just set a new Guinness World Record, selling 2.11 million mobile phones in 24 hours," chief executive Lei Jun posted on Sina Weibo - the Chinese equivalent of Twitter - shortly after the event.

"This is beyond my imagination," the Hong Kong-based South China Morning Post quoted Lei as telling reporters at the company's headquarters here. The new record has been certified by the official Guinness World Records and examined by auditor PricewaterhouseCoopers, he said. Xiaomi easily broke their record from the same event last year, which saw them selling 1.3 million smartphones.

Mobile phones and other accessories sold during the 12- hour event were discounted from Xiaomi's already famously low prices. Lei said the company was focussed on making smartphones, televisions, routers and other products sold on its website. In 2014, Xiaomi sold 61 million smartphones and had revenue of 74.3 billion yuan, becoming the world's number three smartphone player and China's top smartphone brand, overtaking Apple and Samsung.

The company was valued at USD 45 billion in a December funding round that drew investors ranging from Singapore's sovereign wealth fund to a private capital firm backed by Alibaba Group co-founder Jack Ma.


23.06 | 0 komentar | Read More

Warburg sells 27% stake in Metropolis Healthcare

Commenting on the development, Metropolis Healthcare Ltd MD & CEO Ameera Shah said, "Warburg Pincus invested in the company in 2010 and after nearly five years of support, sold its shares for handsome returns. "The shares have been acquired by me and my family. We are very excited about the new phase of growth."

Warburg Pincus has sold its 27 percent stake in Metropolis Healthcare Ltd to the latter's promoter, the Shah family, for an undisclosed amount.

Warburg Pincus had picked up a stake in Metropolis Healthcare, which is India's leading pathology chain with presence in the UAE, Sri Lanka, South Africa, Kenya, Mauritius and Ghana, in 2010. After nearly five years of support, it has decided to sell its stake to the promoters, a company statement said today.

Commenting on the development, Metropolis Healthcare Ltd MD & CEO Ameera Shah said, "Warburg Pincus invested in the company in 2010 and after nearly five years of support, sold its shares for handsome returns. "The shares have been acquired by me and my family. We are very excited about the new phase of growth.

The company is now supported by eminent independent directors and I am backed by other marquee investors and eminent industrialists". "The relationship with Warburg Pincus was mutually beneficial for the investor and the company. With the new shareholding structure, Metropolis will take an even more aggressive path," Shah said in a statement here.

Warburg Pincus India Private Limited's Managing Director Niten Malhan said, "The decision to invest in Metropolis in 2010 was based on our thesis that demand for and growth trends in medical diagnostics will continue and that Metropolis is well positioned to benefit. "We are pleased to have partnered Metropolis during its critical growth phase. Metropolis, through its innovative vision and focused business acumen has now metamorphosed into one of India's leading pathology specialists and has created immense value for all its partners," he said in the statement.


23.06 | 0 komentar | Read More

Retired? Four monthly income investment options for you

Written By Unknown on Kamis, 02 April 2015 | 23.06

Factors

Nationalized Bank Fixed Deposits.

Varishtha Pension Bima Yojana

Postal MIS

Pension Plans – Jeevan Akshay VI

 

What is it?

The investor can invest money in a fixed deposit in a bank for a certain duration and earn interest on the same.

LIC has launched this pension plan. Its aim is to provide a regular income to the senior citizens of the country.

Post Office Monthly Income Scheme is a post office investment scheme that gives an assured monthly income.

Jeevan Akshay VI is a pension plan  wherein the investor purchases the plan by paying a lump sum amount and gets annuities periodically. It is an annuity plan. 

Key Features

Fixed Deposits (FDs) allows an investor to invest a lump sum amount and earn income at a higher interest rate than Savings Accounts.

One can invest in FDs from a minimum of 7 days to a maximum of 10 years. 

Interest is calculated on a compounded basis.

At the end of the FD tenure, the principal and interest is returned to the investor'

The individual has to be 60 years or more and for a monthly pension the minimum purchase price is Rs. 66,665 and the maximum is Rs. 6,66,665.

The policy can be surrendered after 15 years for a full refund and at 98% in case it is surrendered for any emergency purpose before 15 years have passed.

POMIS is a risk free investment scheme with a minimum investment of Rs. 1500. The maximum amount is Rs. 4,50,000 for individual accounts and Rs. 9,00,000 for joint accounts.

An interest of 8.5% p.a. is paid

The maturity period is 6 years and a bonus of 5% is given if you remain invested in it for 6 years.

LIC's Jeevan Akshay VI is a single premium pension plan wherein on payment of the sum, a regular income will be paid to the investor from the next time interval.

A person between the ages of 30 and 85 years can purchase this plan from LIC with a minimum amount of Rs. 1,50,000. There is no upper limit. He/She will get the periodic annuity (monthly, quarterly, semi-annually or yearly) depending on the type of plan purchased.

There are 6 plan options to choose from and the policy termination, refund of purchase price and nomination features depend on the plan chosen.

Payment Mode

The monthly interest can be credited to the savings account. It can be given quarterly, semi-annually or annually as well.

Payment is done through ECS/NEFT.

The payment can be taken from the post office or it will be transferred electronically to your bank account.

There are various modes of payment for getting the annuity.

Returns

Interest rate varies depending on duration, amount and Bank.

Interest rate is around 9%-9.38%

Interest rate is 8.5% per year.

The annuity payable for life increases at a simple rate of 3% p.a. The insured person is also eligible for bonuses declared after 6 years of the policy.

Risk

It is a less risky product and the investment up to Rs. 1,00,000 is guaranteed by the Deposit Insurance and Credit Guarantee Corporation (DICGC).

It is not a risky product as the Government backs it.

There is no risk involved.

It is a very low risk product.

Benefits

FDs with a tenure of 5 years or more qualify for deduction under Section 80C of Income Tax Act.

Senior citizens get an additional 0.25%-0.5% on the regular interest rate.

A regular stream of income is provided to the senior citizen.

If the policy owner dies, the entire purchase amount is refunded to the nominee.

Premium paid for this plan for senior citizens, is exempt from service tax

It is a secure regular stream of income.

The account can be transferred easily from 1 post office to another.

If the plan purchase price is Rs. 2,50,000 or more, higher incentives are available.

Online purchase also gives a rebate by increasing the annuity rate.

It is a hassle free investment option for senior citizens  falling in the 10% tax slab.

What is not so good about it

Tax saving FD are illiquid

Rate of Interest can change and inflation can erode the value of the interest earnings.

The maximum limit is not high enough. There are no tax breaks on it. It is illiquid in nature.

There is a penalty if you take the money out before the completion of 1 year of the investment.

The investor cannot take a loan against it.  There is no option to surrender the policy. Inflation is not considered in the plan returns.

Taxation

The interest earned on the fixed deposit is taxable.

If the interest income on a fixed deposit exceeds Rs.10000 in a year, tax will be deducted at source along with education cess.

Investments in the pension plan do not qualify for deductions.

Interest earned in taxable at the tax slab that the investor falls under. There is a service tax of 3.09% on the premium amount.

It does not qualify under Section 80C.

Income received is taxable as per the income slab that the person falls under.

Premium paid for purchase of plan is exempt from tax.

1/3rd of the maturity value received is exempt from tax

Income received is taxable as per the income tax slab the person falls under

Comments

It is good for investors falling in the 10% income tax slab and those who do not mind the lock-in period.

Investors in the higher income tax slabs will not find the returns attractive.

It is a good investment option for senior citizens looking for a regular stream of income with no risk involved. Some money can be invested so that investments are diversified.

There are many insurance companies with pension plans. The investor should compare different options and buy the one that suits his requirements. The returns do not match the inflation rate, which means you can lose money here.


23.06 | 0 komentar | Read More

2015 Volvo XC90 review

Well there's this luxury carmaker from Sweden that is often overlooked in the Indian automotive landscape, partly because of the large shadow cast by the success of its bus division, and partly because of its small distribution and service network. But Volvo has always had some excellent products that have introduced the global automotive industry to some significant technologies. The new XC90 is one such example - which the company claims is its current production magnum opus. So we descended upon the twisties of the Montserrat mountain... Read More


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Buy Bank of India; target of Rs 285: Prabhudas Lilladher

Brokerage house Prabhudas Lilladher is bullish on Bank of India and has recommended buy rating on the stock with a target price of Rs 285 in its research report dated April 01, 2015.

Prabhudas Lilladher's report on Bank of India  

"BOI's loan growth remains muted at ~7% during FY15 YTD (8.6% during 9MFY15) as bank remains cautious on lending to large corporates. BOI maintains a cautious stance on lending to large corporates and is focusing more on retail and SME segment. Following 15% wage hike settlement reached in tenth bi‐partite settlement, BOI is likely to provide for the gap in wage provisioning (BOI has provided for 13% wage hike vs 15% settlement) during 4QFY15 and the amount would be close to ~Rs1bn. However the bank still continues to rely on existing mortality tables and the shift to new mortality table, if required, will impact earnings by ~Rs6bn – 13% of FY16E PBT."

"BOI has restructured Rs39.8bn worth of loans during 9MFY15 and is looking to restructure another Rs25‐30bn (infra, metals, textiles) during 4QFY15. Fresh slippages is also likely to remain elevated at Rs25bn (Rs101bn in 9MFY15) however will likely improve on sequential basis. We believe that bank will miss its guidance of <4% GNPA by end of FY15. BOI has raised capital worth Rs6.42bn from LIC and New India assurance however the increase in coretier I from this capital infusion stands at tiny 18bp. The core‐Tier1 now stands at 6.86% while overall Tier‐I including AT‐1 stands at 7.95%. We believe that FY16 will be a difficult year for PSUs as earnings remain volatile. Earnings normalization will only occur from FY17 as opex moderates while loan growth recovers from FY17. We maintain BUY rating over one year perspective", says Prabhudas Lilladher's research report.

For all recommendations,  click here  

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here


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Diageo to buy Mallya's remaining 50% stake in African firm

Diageo has entered into an agreement to acquire the remaining 50 per cent share of United National Breweries (UNB) interest in the company, thereby making it a wholly owned subsidiary, the company said in a statement.

Diageo, the world's largest spirits maker today took full control of South African beer maker United National Breweries by acquiring the additional 50 percent stake in the company from Vijay Mallya-controlled Pestello Investments for an initial payment of USD 22 million.

Diageo has entered into an agreement to acquire the remaining 50 percent share of United National Breweries (UNB) interest in the company, thereby making it a wholly owned subsidiary, the company said in a statement.

"Diageo will acquire this further interest from Pestello Investments Inc for an initial payment of USD 22 million and a potential earn-out payment of up to USD 14 million," the statement added.

It further said that the transaction is 'conditional on consent from the South African competition authority', and it is expected to complete within the current fiscal.

Diageo, which is also a major producer of beer and wine and owner of popular brands such as Johnnie Walker, Guinness and Smirnoff had in January 2013 acquired 50 percent interest in UNB's traditional sorghum beer business in South Africa reportedly at USD 36 million.

In 1996 Mallya's UB Group had acquired 30 percent stake in UNB and later increased it to 100 percent.

In 2000, UNB had acquired beer business from Traditional Beer Investments (TBI), a subsidiary of South African Breweries.

According to Diageo: "Once completed, this transaction will give Diageo control of the leading traditional sorghum beer business in South Africa, including the ability to make investment decisions to support the continued growth of United National Breweries brands in the sorghum beer category." 


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28 Soft Skills To Working Smart

Rules for mastering soft skill is not black and white –  Unlike hard skills, like math, where the rule for doing it perfectly is always the same, how effective you are at a soft skill changes depends on your emotional state, external circumstance, and the type of people you interact with.

This skill is portable and valuable to any job/career – Because soft skills are about your inner strength and interpersonal effectiveness, as long as you work with people, these skills are valuable to your career.

Mastering this skill is an ongoing journey – you can reach a level of competency in it but you can always encounter new situations or people that will test your soft skills and push you to learn more.

There are 28 soft skills that every professional should develop – 10 Self-Management skills and 18 People Skills.  No matter what type of work you do, you will find value, advancement, and fulfillment in developing these 28 soft skills in your career.

Self-Management skills address how you perceive yourself and others, manage your emotions, and react to adverse situations.   Only when you build an inner excellence can you have a strong mental and emotional foundation to succeed in your career.

Growth mindset – Looking at any situation, especially difficult situations, as an opportunity for you to learn, grow, and change for the better.  Focusing your attention on improving yourself instead of changing others or blaming anyone.

Self-awareness – Knowing and understanding what drives, angers, motivates, embarrasses, frustrates, and inspires you.  Being able to observe yourself objectively in a difficult situation and understand how your perceptions of yourself, others, and the situation are driving your actions.

Emotion regulation – Being able to manage your emotions, especially negative ones, at work (e.g. anger, frustration, embarrassment) so you can think clearly and objectively, and act accordingly.

Self-confidence - Believing in yourself and your ability to accomplish anything.  Knowing that all you need is within you now.  "Those who believe in themselves have access to unlimited power" – wisdom from Kung Fu Panda

Stress management- Being able to stay healthy, calm, and balanced in any challenging situations.  Knowing how to reduce your stress level will increase your productivity, prepare you for new challenges and supports your physical and emotional health, all of which you need for a fulfilling, successful career.

Resilience – Being able to bounce back after a disappointment or set back, big or small, and continue to move onward and upward.

Skills to forgive and forget- Being able to forgive yourself for making a mistake, forgive others that wronged you, and move on without "mental or emotional baggage."  Freeing your mind from the past so you can focus 100% of your mental energy on your near and long-term career goals.

Persistence and perseverance – Being able to maintain the same energy and dedication in your effort to learn, do, and achieve in your career despite difficulties, failures, and oppositions.

Patience – Being able to step back in a seemingly rushed or crisis situation, so you can think clearly and take action that fulfills your long term goals.

Perceptiveness – Giving attention and understanding to the unspoken cues and underlying nuance of other people's communication and actions.  Often times, we are too busy thinking about ourselves and what we are saying, we leave little room to watch and understand others' action and intentions.   If you misinterpret other's intention, you can easily encounter difficulties dealing with people and not even know why.

Soft Skills List – People Skills

People Skills address how to best interact and work with others so you can build meaningful work relationships, influence others perception of you and your work, and motivate their actions.   It is further split into two sections – Conventional and Tribal.

Conventional – List of people skills you can find in most job descriptions and you will be assessed on some or all of these in your performance reviews depending on your level.

Communication skills – Being able to actively listen to others and articulate your ideas in writing and verbally to any audience in a way where you are heard and you achieve the goals you intended with that communication.

Teamwork skills – Being able to work effectively with anyone with different skill sets, personalities, work styles, or motivation level to achieve a better team result.

Interpersonal relationship skills – Effectively at building trust, finding common ground, having empathy, and ultimately building good relationships with people at work and in your network.  This skill is closely related to Communication Skills.  As Maya Angelou said "I have learned people will forget what you said. People will forget what you did, but people will never forget how you make them feel."

Presentation skills – Effectively presenting your work results and ideas formally to an audience that captivates their attention, engage their input, and motivates them to act in accordance to your desired outcome.  While presentation skills is a form of communication skills, I decided to list it separately given the ability to present plays a huge role in any business profession especially as you move up in your career.

Meeting management skills – Leading a meeting to efficiently and effectively reach productive results.  At least 50% of meetings today are a waste of time.

Facilitating skills – Being able to coordinate and solicit well represented opinions and feedback from a group with diverse perspectives to reach a common, best solution.

Selling skills - Building buy-in to an idea, a decision, an action, a product, or a service.  This is not just for people in sales.

Management skills – Creating and motivating a high performing team with people of varied skills, personalities, motivations, and work styles.

Leadership skills – Defining and communicating vision and ideas that inspires others to follow with commitment and dedication.

Mentoring / coaching skills - Providing constructive wisdom, guidance, and/or feedback that can help others further their career development.

"Tribal" –  List of people skills that you will not find in any job descriptions.  They are also essential to your career success.   I call it tribal because they are more "insider knowledge" that you gain from work experience or from mentors.  Some people can go through their entire career and not be aware of some of these skills.

Managing upwards – Proactively managing your relationship with your boss, his expectations of your work, and his perception of your performance.  Whether you are challenged, given opportunities, or recognized at work heavily depends on your ability to communicate, manage expectations, and build a good relationship with your boss.

Self-promotion skills – Proactively and subtly promoting your skills and work results to people of power or influence in your organization and network.  It is not enough that your boss knows you do great work.  You need to subtly build your reputation with all key people that can influence your performance review.  This is because hard work alone does not guarantee success.

Skills in dealing with difficult personalities – Being able to still achieve the work result needed while working with someone whom you find difficult.

Skills in dealing with difficult/unexpected situations – Being able to stay calm and still are effective when faced with an unexpected or difficult situation.  This includes being able to think on your feet and articulate thoughts in an organized manner even when you are not prepared for the discussion or situation you are in.

Savvy in handling office politics – Being able to understand and proactively deal with the unspoken nuances of office and people dynamics so you can protect yourself from unfairness as well as further your career.  Office politics is a fact of life.  If you don't choose to play, it can play you.

Influence / persuasion skills - Being able to influence perspectives or decision making but still have the people you influence think they made up their own minds.

Negotiation skills - Being able to understand the other side's motivations and leverage and reach a win-win resolution that you find favorably, satisfies both sides, and maintains relationships for future interactions.

Networking skills - Being able to be interesting and interested in business conversations that motivates people to want to be in your network.  The bigger and stronger the network you have, the more easily you can get things done (e.g., find a job, get advice, find business partners, find customers, etc…)

I know this is a daunting list.  Don't worry if you don't have all of them.  Most of us don't.   The important thing is to understand why these soft skills are important to your career success and then ask yourself – what soft skills do you already possess and which ones do you want to develop next?

By Lei Han who is a Stanford engineer, Wharton MBA and has 15+ years of business experience.


23.06 | 0 komentar | Read More

10 Unusual Ways to Improve Employee Productivity

Employee happiness is not a myth; it can and does exist. There are number of quick, easy and low-cost ways companies can start boosting employee happiness and productivity.

With employee productivity so crucial to business growth, it should be encouraging to companies to learn that employee happiness is so closely connected to their performance, because employee happiness is not a myth; it can and does exist.

The University of Warwick in the UK recently published research highlighting that happiness can increase employee productivity by up to 12%.
Separate research by the New Economics Foundation suggested that in some creative industries, happiness can improve productivity by up to 50%.
Furthermore, academic research in the US found that when employees were in a good mood they performed their least favorite tasks better than when they didn't feel as happy.

What was interesting about the original Warwick University research was how quickly and easily employees' moods were boosted by eating chocolate and watching comedy for ten minutes. While this is an affordable and active way to boost somebody's mood in the short-term, it is perhaps not the most cost- or time-efficient approach to ensuring employee happiness, and thus productivity, in the long-term.

For many years academics have been conducting surveys and research to establish proven ways that improve happiness in the workplace. The findings – many of which are summarised below – include a number of quick, easy and low-cost ways companies can start boosting employee happiness and productivity.

1. Get some plants
Research conducted by the NCIB shows that "nature contact" was very effective at reducing stress among employees. Separate research in Norway also showed that working in an environment with plants was very effective at improving staff health by reducing coughs, headaches and skin ailments.

2. Better Use of Space and Better Furniture
When you also look at the offices for some of the most successful – and popular – companies in the world, their offices offer ample space and comfort, not only for work but for also breaks. Not every company has the budget to offer Google style offices, but small changes to the working environment can go a long way. Research in New Zealand has shown that investment in ergonomic furniture and effective use of space could increase productivity by up to 64%.

3. Organized Exercise Breaks
The same research in New Zealand showed that when exercise breaks were encouraged there was a 25% increase in staff productivity and separate research shows that taking four short walks a day can boost a person's mood for as long as 11 hours. Offer "walking breaks" to your employees and make it easy for them to get exercise during their lunch hour.

4. Keep Your Promises
Psychologist Dr. Noelle C Nelson concluded from research for her book "Make More Money by Making Your Employees Happy" that many employees consider a good manager to be someone who keeps their promises and puts employees first. Giving the example of the CEO of aluminium company Alcoa Ltd who made employee safety his "sole priority", this approach not only reduced accidents, but employee productivity dramatically increased.
Employees consider a good manager to be someone who keeps their promises and puts employees first.

5. Make Managers Happy
Professor Cary Cooper of Lancaster University explains that the main cause of unhappiness in employees is line managers. Investing in line manager happiness as a priority and encouraging this to "drip down" is a very logical and effective way to improve staff happiness. When studies have shown that over two thirds of employees feel their manager has an impact on their career it's important to ensure that it's a positive one.

6. LOL
As the original Warwick University research shows, laughter has a quick and direct impact on our mood. Research also shows that regular laughter reduces stress, helps us sleep better and can even boost the body's immune system. If laughing in the workplace isn't appropriate, then organise a work trip to a comedy club or share recommendations for funny movies that employees can watch at home.

7. Let employees go on Facebook
While many companies have a no social media policy, there is some evidence to suggest that those who are allowed to access these websites at work could be happier employees. In a recent interview with Entrepreneur, Richard Branson stated that one of the key reasons Virgin introduced flexible working was to show employees they were trusted and this in turn improved their productivity. This article also argues that some of the world's most successful CEOs are very active on social media, and they use it to promote their company. Why not let your employees do the same?
When studies have shown that over two thirds of employees feel their manager has an impact on their career it's important to ensure that it's a positive one.

8. Start a Book Club
Neurological research has shown that brain functions are significantly boosted after people finish reading a novel and the additional benefits of reading include greater social perception and empathy. These are all excellent reasons to start a book club.

9. Encourage Sharing
When we introduced the Noticeboard feature for our customers on Findmyshift we expected it to be used to share work-related memos. In reality it's used by our customers to share a variety of information about social events, personal announcements and yes, even book club updates! In a recent survey we conducted it was listed as one of our most popular features by staff and managers alike.

10. Let them get on with it
Arguably the most welcome and cost-effective way proven to make your staff happy and more productive is to simply let them get on with their work. This is supported by Harvard Business Review research which showed that what motivated them most was not financial reward or public recognition, but progress.

There is some comfort in knowing that employees are motivated by the same thing managers are and in many ways it confirms the strong link between happiness and productivity; we all like to feel useful. Of course, you don't need to be an expert to understand why happier employees are more productive employees, but perhaps we all need to take a bit of extra time to do what we can to make our employees happy when they come to work and not just when they leave.

By Mark Feldman, SAP Business Innovation


23.06 | 1 komentar | Read More

Should I sell my equity mutual funds and book profits now?

Booking profits in equity mutual funds should depend on your financial goals and performance of individual schemes and not on the basis of overall surge in equity markets.

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Suresh KP
Myinvestmentideas.com

Markets are near the peak. As an investor, you might be getting doubt that should I sell my equity mutual funds to book profits? Where is the market heading and how long it would sustain at this level? While it is almost impossible to predict where exactly stock market would be in coming years, if you are investing in equity mutual funds, here are some tips which you can consider before taking a sell decision about your equity mutual funds.

Some of the factors which have driven / driving stock markets to peak levels:

New Government and New policies boosting SENSEX to reach peak: One and half year back, SENSEX was at 19,000 levels, now at 28,500 levels indicating a 50% rise in SENSEX stocks. The SENSEX has been hovering around the similar level of 19,500 all along since 2007. What made the difference is the expectation from the new government and new policies / trust being built after the new Government has been formed in the last 1 year. Though you may not see a rise in SENSEX in a similar manner, SENSEX could move in a positive direction with correction on and off.

Companies are getting fair valuation: In the last 1 year, investors are seeing true valuation of the large cap stocks. However, mid-caps and small-caps are over-valued. In case there is any major correction, mid-cap/small-caps would take a huge beating.

Increase in FII's inflow: In the last 1 year, FII's have pumped net of Rs 82,000 Crores (Source: Moneycontrol.com) in to Indian stock markets which indicates increase in FII's trust in Indian stock markets.

Well, all these are fine but that does not answer our question: Should I sell my equity mutual funds and book profits now?

I have indicated some of the major factors which influenced the stock market to reach at this peak level in the Iast one and half year. If you have invested in equity mutual funds over a period of time through the Systematic Investment Plan, you might have seen good returns for your mutual fund schemes. This growth may continue in future, however, not predictable. Hence, your decision to sell an equity fund may depend on the following factors:

Sell your fund if it is under-performing compared to benchmark: Compare your mutual fund returns with the benchmark. If it has out-performed, you should continue to keep your equity funds. If it is under-performing, you should review and exit appropriately. For example, if you have invested in X mutual fund scheme which gave 12% annualized return in last 5 years and benchmark has given 15% return, you know for sure that your fund has underperformed. Review such funds, book profits and exit.

Sell if you have met your financial goal: Many of us would have been investing in mutual funds keeping our financial goals in view. With this market boom, if you have achieved your financial goal, you can sell your mutual fund, book profits and use for the purpose you have planned. For example, if Mr.Akhil Kumar has been investing in the stock market for the last 15 years to create a retirement corpus. Now he is nearing retirement and his mutual fund portfolio is worth Rs 1 Crore, which was his retirement goal. He should book profits and invest in debt schemes which provides fixed income considering his age factor.

Sell your fund if it does not meet your goal: If you have wrongly invested in a fund by mistake with an advice from an advisor or friend, you should review it carefully and exit appropriately. E.g. if you have bought sector based mutual fund scheme with an aim to have a good secure education for your child, it is incorrect. Sector funds are high risk and can wipe your capital itself.

Concluding remarks: No one can time the market. Investing through SIP in mutual funds for long term can provide good returns. However, you should also know when to exit. Understanding these concepts would help you to plan well.

Readers, what do you think about these ideas? Are you selling your mutual funds considering any other parameters? I would love you hear from you.

The author of this article is founder of Myinvestmentideas.com. He can be reached at suresh@myinvestmentideas.com for any clarifications.


23.06 | 0 komentar | Read More

CARE maintains fundamental grade of 4/5 to PC Jeweller

CARE Ratings has maintained fundamental and valuation grade of 4/5 to PC Jeweller (PCJ), in its report dated March 31, 2015.

CARE Ratings' report on  PC Jeweller (PCJ)

During Q3FY15, the company's consolidated total income increased by 38.1% to Rs.1833.2 crore in Q3FY15 on y-o-y basis, EBITDA and PAT margins stood at similar level (11.7% and 6.0% respectively) as against Q3FY14.

The total revenue has increased mainly buoyed by the festive/marriage season in India & abroad, along with store-wise expansion of the company and higher contribution from export sales. Further, contribution from diamonds continues to be a major strength for the company, with diamond jewellery contributing 35% of total revenue in Q3FY15.

On q-o-q basis, the total income of the company registered a 53.7% growth from Rs.1193 crore in Q2FY15 to Rs.1833 crore in Q3FY15. The profitability margins moderated during the quarter mainly due to decline in the profitability margins from export and also discounts/offers offered by the company typical to the festive season of the year.

CARE believes key catalysts for PCJ would be the volume and realizations growth across newer markets and new format selling (online retailing and e-format selling targeting student & working women). Further, revenue from the diamond jewellery is expected to grow from 25% of the total revenue in FY14 to around ~30-35% in FY15E-FY17E, which will positively impact company's margins. The contribution from wedding jewellery (currently constituting ~80% of total revenues), the niche segment for PCJ, is expected to stay flat.

Valuation
We have valued the equity shares of PCJ at Rs.354 per share. The valuation has been arrived at by using the EV/ EBITDA valuation methodology. The CIV of Rs.354 per share is around 11.41% above the Current Market Price (CMP) of Rs.318 per share; hence we assign a valuation grade of 4/5 to the equity shares of PCJ, indicating that equity shares have 'Moderate Upside Potential.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here


23.06 | 0 komentar | Read More

Buy Glenmark; target of Rs 1186: Prabhudas Lilladher

Brokerage house Prabhudas Lilladher is bullish on Glenmark Pharma and has recommended buy rating on the stock with a target price of Rs 1186 in its research report dated April 01, 2015.

Prabhudas Lilladher's report on  Glenmark Pharma

"Glenmark has seen a steady performance over the last few years and we expect them to be in a favourable position going forward to gain from a large number of approvals in the USA and the US sales is expected to grow at a CAGR of 33% for the next three years. With US accounting for 34% of the existing turnover, GNP we believe GNP is in a sweet spot. With 64% revenues from US, EU and ROW, Glenmark is in a favourable position to gain from (a) strong flow of approvals in US, (b) turnaround in key ROW markets with launch of high‐end drugs and (c) expansion of operating margin in non‐US exports. Besides, we expect value unlocking of NCE/biologics, along with consistent growth of 16‐18% in domestic formulation to turn out to be the inflection point for the company. The company is set to receive approvals in 25‐30 generics in US along with sole exclusivity in Zetia in 12‐24 months. Launch of Seretide generics and Oncology drugs in key markets such as Brazil, Mexico and Russia will expand operating margin of ROW sales."

"With strong potential in US generics, India formulations and branded generics in ROW markets, we expect a CAGR of 36% in revenues in FY14‐17E on rapid progress in sales and profitability. Key headline margins will be benefitted by 180‐200bps in FY15E‐17E on company's progression in high‐end products in the value chain. With better clarity on US generic potential and Seretide generic approvals in ROW markets, we increase our core earnings estimates by 12% and 35% for FY16E and FY17E, respectively. Our core EPS estimates are Rs25.2, Rs42, and Rs58.5 in FY15E, FY16E and FY17E, respectively. We upgrade our recommendation to 'BUY' and increase TP to Rs1,186, which implies potential upside of 50% at the current valuation", says Prabhudas Lilladher's research report.

For all recommendations,  click here  

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here


23.06 | 0 komentar | Read More

2015 Volkswagen Vento Cup drivers finalised

After an incredible total of 550 entries to the first edition of the Vento Cup, 16 drivers have been selected to participate in the Volkswagen Vento Cup 2015. 6 drivers from the previous Polo R Cup season will also be part of the races. The final selection round was split in two and concluded at the Indi Karting Track in Pune. The Vento Cup replaces the Polo R race car this... Read More


23.06 | 0 komentar | Read More
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