SIVA SIVANI INSTITUTE OF MANAGEMENT
From Director’s Desk News Brief 22 -07-2010
1. Toyota launches diesel variant of Corolla Altis
Gearing up for December launch of its small car, Etios.
Toyota Kirloskar Motors (TKM) on Wednesday launched the diesel version of its premiumsedan, the Corolla Altis. Priced at Rs 10.95 lakh to Rs 13.75 lakh (ex-showroom Delhi), theCorolla Altis diesel is priced lower than the competition, the Chevrolet Cruze (Rs 11.52-13.95lakh) and the Skoda Laura (starts Rs 13.74 lakh).
India is the first Asian country where the BS-IV version of the car has been launched. TheCorolla Altis is available with a newly developed 1.4L in-line 4-cylinder D-4D Common RailDiesel Engine that generates a peak power of 88.4 PS and a peak torque of 205 Nm. Toyota's D-4D technology is also used in the Innova, the Fortuner, the Prado and the Land Cruiser 200.
The Corolla Altis comes with a 6-Speed Manual Transmission and the car has registered amileage of 21.43 km/litre.
2. Ranbaxy to sell Daiichi Sankyo's anti-bacterial drug in two countries
Daiichi Sankyo has announced plans to leverage Ranbaxy's presence in Romania and SouthAfrica to market Tavanic (levofloxacin), the synthetic anti-bacterial agent originally discoveredby Daiichi Sankyo.
Daiichi Sankyo had entered into a licensing agreement with Sanofi-Aventis in 1993 for themanufacture and sales of levofloxacin covering certain territories including Europe, Africa, WestAsia, South America and part of Asia, and since that time Sanofi-Aventis has launched theproduct in more than 90 countries as Tavanic.
Daiichi Sankyo and Sanofi-Aventis have now agreed to transfer the marketing rights of Tavanicin Romania and South Africa to Ranbaxy. The transfer is expected to be effective in August
2010 for Romania, and in January 2012 for South Africa. Sanofi-Aventis will, however, continueto manufacture the products for these countries.
3. Diesel cars will continue to be in demand in India
Despite the narrowing of petrol and diesel prices and a significant gap in the cost of petrol anddiesel-driven vehicles, diesel cars will continue to be in demand in India, according to a seniorexecutive of Hover Automotive India Pvt Ltd (HAI), a sales and service partner of Nissan MotorIndia Private Ltd (NMIPL).
He said tier-II cities in the South have warmed up to the launch of Nissan Micra withCoimbatore, Kochi and Kozhikode accounting for about 20 per cent of the bookings for thevehicles, particularly its top-end variant, the delivery of which has begun.
Speaking to Business Line in Coimbatore on Monday on the sidelines of the handing over of thehatchback Nissan Micra vehicles to the first set of customers, Mr D.Shivaraj, Area Manager-Sales, HAI, Mumbai, said tier II cities have responded ‘very well' to the launch of Nissan Micra.
4. Sony targets Rs 100-crore sales for Onam in Kerala
To consolidate its position as the No.1 consumer electronics brand in Kerala, Sony India has seta target of 45 per cent growth for Onam this year.
After achieving a robust turnover growth last Onam season, the company has targeted salesrevenue of Rs 100 crore during the festival period, Mr Sunil Nayyar, Senior General Manager(Sales), said while unveiling the Onam offers of the company here on Wednesday.
He said that the recently concluded FIFA World Cup promotions offer received a very goodresponse from the consumers in the State with the sale of 10,000 Bravia units, a 37 per centmarket share in the LCD segment.
5. Global Brands to relaunch Akai
Japanese consumer appliance and electronics company Akai is making a comeback to the Indianmarket after lying low for a couple of years. Global Brands Enterprises, promoted by formerHaier India honcho, Mr Pranay Dhabhai, is re-introducing the brand in the sub-continent.
“We have an exclusive licensing and distribution arrangement for Akai brands in India, SriLanka, Bangladesh and Nepal. The brand has a high recall value in India and we are looking tocapitalise on it,” Mr Dhabhai, Managing Director, Global Brands India, told reporters.
Mr Dhabhai bagged Akai's licensing following Videocon's exit from the joint venture inSeptember, 2009. In India, Akai primarily operates in the television category with a business inthe range of Rs 275 crore last year. “We are looking at a turnover of Rs 435 crore over the next12 month,” he said, adding that the company has so far invested Rs 55 crore towards establishingthe brand.
6. Now, Dal Moti Mahal in a packet!
Its claim to fame is the invention of the tandoori chicken and butter chicken. But ironicallyenough, when Moti Mahal, the iconic 90-year old restaurant brand, launched its ready-to-eatprocessed foods at a glittering function here on Wednesday, there was no chicken on the RTEmenu.
Instead, the five dishes available in Moti Mahal's RTE are Dal Moti Mahal, Chana Pindi Masala,Aloo Zeera, Sabz Moti Biryani and Butter Gravy (without onion and garlic). The range is pricedbetween Rs 69-99 for a 300 gm packet. “When we did our market survey, we found that peopleare wary of buying non-vegetarian convenience foods,” says Mr Monish Gujral, ManagingDirector, Moti Mahal Delux Management Services. “That's why we have the butter gravy – thecustomer can add the chicken or paneer,” he adds. Isn't Moti Mahal a rather late entrant to theRTE category? “Yes, it's a late entry,” admits Mr Gujral, “but we have been so busy openingnew outlets and concentrating on restaurant expansion that this has got delayed,” he defends. Thechain which had just four restaurants in 2003, now has over 100 in India and abroad, growingrapidly through the franchise route.
7. Pailan Group launches ready-to-cook potato flakes
The Kolkata-based Pailan Group has launched ready-to-cook potato flakes under the ‘Poto' brandto be manufactured from its Rs 50-crore plant at Dhaniakali in Hooghly district of West Bengal.
“We hope to generate yearly revenues of Rs 54 crore from the plant. We will shortly launch theproduct in Kolkata and other eastern markets,” the Chairman of the Pailan Group, Mr ApurbaSaha, told presspersons here.
Potato flakes are manufactured by dehydrating potatoes and pulverising them into powder.
The resultant product can be converted into potato mash by simply adding water. Consumers, inturn, are spared the burden of selecting and buying potatoes and then washing, cleaning, peeling,boiling and cooling them prior to cooking. Besides home use, potato flakes are used inproduction of frozen foods and as thickening agent for instant soups, sauces and purees.
8. Shaadi.com's offline centre launched
Shaadi.com Centre, the offline matchmaking business of Shaadi.com – the world's largestmatrimonial site, has announced the launch of its first centre in Kochi. The centre wasinaugurated by Prof Mercy Williams, Kochi Mayor, and Mr Nilesh Borgharkar, National SalesHead, Shaadi.com. Shaadi.com has been helping people from Kerala find their life partner since1996, however, the offline Centre matchmaking operation has been in existence since 2004. Witha network of over 100 marriage outlets in 70 cities worldwide, Shaadi.com Centre has helpedthousands of marriage seekers find their life partner, and is now bringing its world class centreservice to Kerala as well.
9. HUL's renewed soap saga
In the face of stiff competition from a clutch of rival brands, the consumer goods giant hasmanaged to regain its market share in the soaps and detergents categories in the last threequarters.
Buy Lux, win a date with Abhi-Ash in London. Save Re 1, 3 or 5 on Lux soaps with the LuxSuperstar Offer. After luring consumers with gold and silver coins for its soap brands, HUL is
now getting them to meet the brand endorsers (Abhi-Ash couple) in London with the Lux superstar offer for its largest selling soap brand Lux.
Regaining lost market share is the job at hand for the market leader in the soaps and detergentscategory which is fast expanding with new and old players in the segment adopting an aggressivestance. In fact, soaps and detergents have always contributed a big chunk (41 per cent) of HUL'sturnover. But the profit margins in this category have been under pressure and a toughcompetitive environment has not helped either. The consumer goods major is now fighting backwith a new strategy for its soaps and detergents portfolio and the onus of this exercise lies withSudhanshu Vats, Vice-President, Home Care & Skin Cleansing, who is in charge of the categoryat HUL.
1. Centre agrees to dual rate under Goods and Services Tax
Proposes three-year time frame to achieve single rate GST structure.
A consensus is emerging on the proposed Goods and Services Tax structure (GST), with theCentre on Wednesday agreeing to adopt a dual rate structure — a lower rate and a standard rate— for goods at the inception of Goods and Services Tax (GST).
There is also now consensus between the Centre and the States on having a common list ofexemptions for both Central GST (CGST) and State GST (SGST).
The States had earlier urged the Centre to adopt a dual rate structure for goods with regard to theCGST — a suggestion which has now been accepted by the Union Finance Minister, Mr PranabMukherjee.
Source: Business line, Dated on: 22nd July, 2010; Page NO – 1
2. TVS Motor announces 1:1 bonus issue
Riding on the back of a good quarter, TVS Motor Company has announced a bonus issue ofshares. Shareholders will get a share for each share held by them.
Pick up in demand for two-wheelers helped the company turn in a net profit of Rs 40.37 crore forthe first quarter ended June, compared with Rs 18 crore for the corresponding quarter of lastyear.
Turnover (including other income) rose to Rs 1,393 crore against Rs 988 crore previously.
Source: Business line, Dated on: 22nd July, 2010, Page NO – 2
3. Higher net interest income lifts Kotak Bank profit 107%
Corporate banking, treasury growing at a steady clip, says CFO.
Higher net interest income and lower provisioning helped Kotak Mahindra Bank (KMB)report a 107 per cent jump in net profit at Rs 187 crore in the first quarter ended June 30, 2010.
The private sector bank's net interest income (interest earned less interest expended) increased 24per cent to Rs 508 crore (Rs 409 crore). Provision towards non-performing assets was lower atRs 56 crore (Rs 157 crore).
Total advances in the reporting quarter increased 12 per cent (or Rs 2,413 crore) over theimmediate preceding quarter to Rs 23188.50 crore.
Source: Business line, Dated on: 22nd July, 2010; Page NO – 6
4. YES Bank net profit rises 56% on healthy credit growth
YES Bank's net profit increased 56 per cent to Rs 156 crore for the quarter ended June 30, 2010,from Rs 100 crore in the same quarter last year on robust credit growth.
Mr Rana Kapoor, Managing Director and CEO of the Mumbai-based private sector bank, saidthat the strong credit growth was due to loans to the telecom sector. Over 20 per cent of the totalloans were to telecom companies.
Source: Business line, Dated on: 22nd July, 2010; Page NO – 6
1. Winds of change in India-US ties
Few developments have so profoundly affected the course of India-Pakistan relations as thestunning revelations of Daood Gilani aka David Coleman Headley on the direct involvement ofthe ISI and Hafiz Mohammed Saeed in the 26/11 terror attack on Mumbai.
On the eve of the External Affairs Minister, Mr S. M. Krishna's visit to Pakistan, the US NationalSecurity Adviser General, Mr James Jones, remarked in Delhi: “In our bilateral relationship with
Pakistan, we have expressed strong concerns over the existence within the borders of Pakistan, ofterrorist organisations that have goals to destabilise our way of life, your way of life, to preventour strategic goals from being achieved in Afghanistan.”
Source: Business line, Dated on: 22nd July, 2010; Page NO – 11
2. Accenture crosses 50,000 staff mark in India
Accenture has joined the elite group of multinationals such as IBM and Cognizant TechnologySolutions in employing over 50,000 in India.
The $22-billion US-based management consulting, technology services and outsourcingcompany crossed the 50,000 mark in May, ahead of its anticipated plan of reaching that numberby 2010-end.
Out of Accenture's 100,000 employees in its 50 global delivery network, over half of them areemployed in India. The network is a hub of the company's global innovation.
Source: Business line, Dated on: 22nd July, 2010; Page NO – 10
3. Extra-caution must in developing management case studies
There is a need for extra caution while developing case studies in management research,according to Prof M Rammohan Rao, Dean Emeritus, Indian School of Business.
In his inaugural address at a round table on management research organised by the Institute forPublic Enterprise (IPE) here on Wednesday, Prof Rao said there was a possibility of case studiesbeing wrong. “Many case studies are done on the basis of information given by the ChiefExecutive Officers. But what is the guarantee that they are truthful? If the information is wrongthen the study will also be wrong,'' he said.
Source: Business line, Dated on: 22nd July, 2010; Page NO – 21
4. Management students should learn nuances of disinvestment
Management students should look into practices and procedures on disinvestment under theIndian laws as well as other nation as part of their studies on International acquisition andmerger.
Source: Business line, Dated on: 22nd July, 2010; Page NO – 21
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