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KVIC draws
up plans to AMRITSAR, Dec 27: The Khadi and Village Industries Commission has drawn up elaborate plans to tackle ‘threat’ posed by Multi National Companies (MNC) to its products. ....more
Bull run sent sensex MUMBAI, Dec 27: Driven by political stability and first signs of revival in the Indian economy, major stocks indices posted unprecedented gains during the year 1999...more CDC picks up 10 p c in NEW DELHI, Dec 27: International venture capital fund CDC has picked up ten per cent share in indiainfoline.Com even as India’s leading financial and business internet portal is scouting for investors interested in taking another ten per cent, top company sources said. The Commonwealth Development Corporation (CDC) has invested one million dollars (about Rs 4.5 crore)....more |
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 The Minister for Law and Parliamentary Affairs Mr P L Handoo inspecting Handloom Expo at Jammu on Monday. -Excelsior/Ashok Dr Mustafa Kamal Excelsior Correspondent JAMMU, Dec 27: Minister of Industries and Commerce...more RIL to announce its MUMBAI, Dec 27: Reliance Industries Limited (RIL), will announce its third quarter....more
ATCO Sensors Limited is the leader in manufacturing Strain .....more |
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KVIC draws up plans to tackle threat by MNC AMRITSAR, Dec 27: The Khadi and Village Industries Commission has drawn up elaborate plans to tackle ‘threat’ posed by Multi National Companies (MNC) to its products. Addressing a press conference here yesterday, the Commission, Chairman Mahesh Sharma said they were ready for competition and expected the Government to help them because the rural based industry in Indian generates a great deal of employment which the MNC’s do not. He, however, admitted that liberalisation had effected some sectors of production of the Khadi industry particularly the consumer goods section. The Commission has planned to upgrade its technical output and was laying focus on research and development, he added. Help for this purpose had been sought from the Indian Institutes of Technology (IIT) all over the country and the Delhi Institute had already responded favourably, he said. Dr Sharma said the Central Government too had drawn up a three -point strategy called national programme on rural industrialisation for developing the village industry. Under this rural industry programmes scattered in various ministeries would be clubbed together into one national integrated programme so that resources are better utilised, he said. Under the programme the Commission would adopted an agressive marketing approach to sell its products in order to compete with the big industrial houses, Dr Sharma said. This programme would also involve the formation of rural industrial clusters all over the country so that inputs of modern technology and management skills were extended to this sector, he added. The credit out flow in the last fiscal, the Commission almost doubled to Rs 450 crore and at the end of the current financial year it was expected to touch the Rs 2000 mark Government had agreed to allot land, he added. Dr Sharma also disclosed that a special scheme for promoting rural industry in the border areas of Punjab would be announced soon but before this a team of the Commission would tour the border districts. (UNI) |
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Bull run sent sensex above 5000-mark in 1999 MUMBAI, Dec 27: Driven by political stability and first signs of revival in the Indian economy, major stocks indices posted unprecedented gains during the year 1999. The 30-share sensex of the Bombay Stock Exchange (BSE) created history by surpassing the 5000 points mark, while the s and p CNX-nifty index too made a whopping gain during the year. The 30-share sensex recorded a gain of 1819.32 points or 59.54 per cent, while the S and P CNX-nifty index zoomed up 573.82 points during the calendar year 1999. This is the third time in BSE’s history that the sensex recorded such a hefty gain during the calendar year and first time in the last seven years. "After a long time the country has seen a stable Government at the Centre and the phase of uncertainty is over. Followed by this, the industrial performance too improved. Besides it, economy sectors such as cement, steel and auto performed well, pushing up the stock market continuously in the upward directions during the year", said National Stock Exchange (NSE) Managing Director Mr R H Patil. Crediting the political stability for the wonderful performance of the stock market during the year, Mr Patil said "after the Congress Government lost in 1996, we saw a series of coalition Governments in the absence of clear majority to any single party. And during the coalition regime, economic reforms slowed down. This had sent alarm signals in the secondary market." However, the present Government speeded up the reforms. Clearance for the derivatives and Insurance Bill within two months after the formation of the new NDA Government sent positive signals to the Foreign Institutional Investors (FIIs) as well as among the domestic investors. Earlier in April, the fall of the BJP Government at the Centre by a single vote, followed by the Kargil conflict had taken its toll on the stock markets. But factors such as comfortable win for the Vajpayee-led NDA Government in the last quarter of 1999, waiving of US sanctions on various items, unprecedented export growth in it sector, Moody’s outlook upgrade, listing of ADRs by Indian companies - Satyam Infoway and Infosys - at NASDAQ and by ICICI at New York stock exchange and the initiation of economic reforms are a few pointers to positive growth. Spurt in industrial production to eight per cent and drop in the consumer index from 16 per cent to six per cent also fuelled the rally in the stock markets, which reflected in the phenomenal increase in the market capitalisation in both the BSE and NSE. Also, the reduction in capital gains tax to ten per cent, the idea to give trading terminals to NRIs and freeing of tax in mutual fund dividend for three years as suggested by Finance Minister Yashwant Sinha were also welcomed wholeheartedly by marketmen. The total market cap at the bse posted an increase of Rs 4,22,549 crore to Rs 9,25,000 crore as against Rs 2,02,451 crore, while the business volume also registered an whopping increase of Rs 4,13,417 crore at Rs 8,33,282 crore during the calendar year 1999. Information technology major Wipro Ltd’s market capitalisation touched Rs 48,651.98 crore, just Rs 2507 crore short of market leader and consumer goods Giant Hindustan Lever’s (HLL) market capitalisation figure of Rs 51,159. Currently, the top three stocks ranked by market cap are HLL, Wipro and Infosys Technologies Ltd on the BSE and NSE. Mirroring the market mood, the 30-share bse sensex started at 3060.34 points on January 1, 1999. Incidentally, it was the year’s low. Surpassing the 5000-mark, the index benchmark created history on October 8 and touched an-all-time high of 5075.39 on October 14, 1999, and finally ended at 4874.73 points as against the previous year’s close, showing a net gain of 1819.32 points. It was the third time in the history of bse that the sensex recorded a 50 per cent gain. Earlier, in 1954, the sensex closed at 527.36 points, about 255.49 points higher from the previous year’s close. Back home, prominent gainers among the top fifty scrips at the NSE also created history in the capital market by recording unprecedented appreciation in the values. Infosys Technologies Ltd topped the list of gainers of the year by registering 327 per cent gain. The infy scrip closed at 12700 from the previous year’s close of Rs 2968, followed by Ranbaxy posting 248.87 per cent gain at 936.90 from Rs 268.55, reliance petroleum recorded 234.39 per cent gain at Rs 63.2 from Rs 18.9, Reliance Industries 89.21 per cent at Rs 226.3 from Rs 119.6, Satyam Computer 171.48 per cent at Rs 1975 from Rs 727. ICICI 99.79 per cent at Rs 94.1 from Rs 47.1, Hero Honda 93.68 per cent at Rs 1052 from Rs 543.15, Dr Reddy lab 181.36 per cent at Rs 1366 from Rs 485, HDFC Bank 194.79 per cent at Rs 161.1 from Rs 54.75 and NIIT 89.21 per cent at Rs 226.3 from Rs 119.6, IPCL 93.29 per cent at Rs 110.95 from Rs 57.4, Grasim 126 per cent at Rs 408 from Rs 180, Mahindra and Mahindra 137 per cent at Rs 391 from Rs 165. Impressive gains were also made by TATA tea (53 per cent), SBI (44 per cent), Novartis (53 per cent), TVs Suzuki (11 per cent), Smithkline Beecham (12 per cent), BSEs (34 per cent), Cipla (61 per cent), Gujarat Ambuja Cement (41 per cent), Glaxo (19 per cent), The trend clearly indicated that Infosys, select pharma, auto, cement, banks, petrochemicals sectors performed well during the year. Commenting on the movements of Indian stocks, Mr Jignesh Shah, AVP-research at the triumph international finance, local brokerage house, said that the Indian capital market will now wear a new look. If all goes as per schedule, by the end of this fiscal we would see the advent of internet-based trading on most stock exchanges, settlement taking place on rolling basis, badla trading taking place on a daily basis, introduction of badla trading at NSE, derivatives making a debut, most scrips trading in demat form, Indian mutual funds buying stocks in the GDR and ADR markets and more Indian companies’ listing at the new york stock exchange and the NASDAQ. As part of market reforms and various investor-friendly decisions, the BSE created the ‘Z’ group for the companies that violate the listing compliances. The BSE has even filed winding up petitions against some of these companies for violations of various investor-friendly norms and SEBI and BSE regulations. The Indian stock markets still depends much on Foreign Institutional Investors (FIIs). The major stock indices witnessed downward movements during the months when there was continous outflow by FIIs. The FIIs were net sellers during the months of March, June, July, August and September. The net FII inflow during the year stood at Rs 404 crore against net outflow of Rs 500 crore in the previous calendar year. Leading stock brokers said that Government should look into this particular point of FII’s market participation and take some initiatives which could reduce the dominance of FIIs in the Indian stock market. (UNI) |
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CDC picks up 10 p c in Indiainfoline.com NEW DELHI, Dec 27: International venture capital fund CDC has picked up ten per cent share in indiainfoline.Com even as India’s leading financial and business internet portal is scouting for investors interested in taking another ten per cent, top company sources said. The Commonwealth Development Corporation (CDC) has invested one million dollars (about Rs 4.5 crore) for the ten per cent share at a premium of Rs 190 on a share of Rs ten face value. The internet company which has two lakh unique users and six million page hits every month, was valued at about ten million dollars in October 1999. "Talks are on with both domestic and foreign venture capital funds to offload another ten per cent for mopping up two million dollars," the sources told UNI. The company expects premium of between Rs 300-400 a share with its value having at least doubled even as the portal’s revenue model is falling in place. The internet portal is growing at about 40 per cent per month, the company sources claimed. Leaving aside CDC’s ten per cent, the company’s equity capital of Rs 4.5 crore is shared between angel investors taking 20 per cent employees 35 per cent and the three co-promoters taking 35 per cent. "After the ten per cent sale of equity, all stakeholders will dilute their share in proportion to their holding", the sources added. Confirming the portal’s efforts to rope in further venture capitalists to fund its future expansion, Indiainfoline.com’s Managing Director Nirmal Jain said the internet company will go for an Initial Public Offering (IPO) in the next 18 months when the revenue model is fully established. The revenue strategy for the loss-making company will include an E-commerce model with primary focus on business-to-consumer. The company has also initiated talks with banks, financial institutions and mutual funds to sell retail products from its site. Apart from the brokerage and commissions expected from retail sale of financial products, the company will start pricing some of its niche research-based products from March 2000. As part of its revenue model, the company has also planned a series of content alliances with various players like cellular and paging companies and internet service providers. Meanwhile, Indiainfoline.Com has tied up with Motorola for sending E-mail alerts, stock prices and news on pagers. (UNI) |
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Dr Mustafa Kamal inaugurates Expo-99 Excelsior Correspondent JAMMU, Dec 27: Minister of Industries and Commerce, Dr Mustafa Kamal has stressed on the need of setting handloom industries in the State to provide employment to the unemployed youth and to preserve our culture and heritage. Inaugurating national handloom exhibition- EXPO-99 at Exhibition Ground this evening, Dr Mustafa Kamal said that handloom is the biggest industries of the State from which thousands of the people have getting direct and indirect employment. He informed that handloom industry in State started way back in 14th century when the then ruler of the Kashmir brought 300 artisan from Central Asia. Dr Kamal said that about 35 percent of the population of the State has been depending upon handloom industry. He said the our country is getting Rs 4,650 crores from export of handloom every year while 17.3 millions people are getting direct and indirect employment from this industry. Dr Kamal recalled the position of Jammu and Kashmir in handloom sector and said the produce of the State had immense market in and outside the country. Kashmiri handicrafts are world renowned, he said adding that the sector has tremendous potential to grow. He said much fillip has been given to this sector after 1975 as it was not receiving the attention it deserved. As a result of concerted efforts, handlooms regained its lost position to a great extent. He said the State Handloom Development Corporation is providing direct employment to about 3000 skilled and unskilled persons and is likely to generate employment to 700 more persons this year. He thanked the participating agencies in the Expo and said this will give an opportunity to the people to have a glimpse of the produce of other states. He said more states are participating in the Expo. The Minister for Law and Parliamentary Affairs, Mr P L Handoo was the chief guest. Additional Development Commissioner, Handlooms, Government of India, Ms Renuka Chidhambram, Principal Secretary, Industries and Commerce, Mr Mohamad Shafi Pandit, Divisional Commissioner, Jammu Mr Anil Goswami besides the Chairman J&K Handloom Development Corporation, Mr S Peter were present. Mr P L Handoo, Ms Chidhamb-ram and Mr M S Pandit also spoke on the occasion. The MD of the Corporation, Mr G H Khan gave a resume of the activities of the Corporation. Mr S Peter presented vote of thanks. Expo-99 has been jointly organised by the Jammu and Kashmir State Handloom Development Corporation Limited and Development Commissioner for Handlooms, Ministry of Textile, Government of India. Central Government has provided all financial assistance to the State to organise exhibition. 23 teams from 9 states including Andra Pradesh, Orissa, Uttar Pradesh, Maharashtra, Himachal Pradesh, Haryana, Rajasthan, Delhi and Assam have been participating in the exhibition. 27 stalls have been installed in the national exhibition. |
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RIL to announce its result on Jan 20 MUMBAI, Dec 27: Reliance Industries Limited (RIL), will announce its third quarter (October-December) unaudited financial results for the financial year 1999-2000 on January 20, 2000. A notice to this effect has been sent to the stock exchanges today, according to a release issued here today. (UNI) |
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ATCO Sensors Limited is the leader in manufacturing Strain Gauge based Load cells in India. The model KRE2 is compact load cells, designed for compression loading. They are made in capacities ranging from 20 Kgf, 50 Kgf, 100 Kgf, 200 Kgf, 500 Kgf, 1 tf, 2 tf, 3 tf, 5 tf, 10 tf & 20 tf, in nickle plated alloy steel. These moisture and corrosion proof load cells are hermetically sealed and have errors of less than 0.02% of Rated Output. They are designed to withstand overloading upto 150% of the rated capacity, allowing safety against impact loading. These load cells confirms to IP 67 standards. Loadcells of this type are perfect for Industrial & Commercial weighing such as in Hopper Weighing, and Tank Weighing. Atco load cells are manufactured in a state of the art facility. Our high quality load cells, which conform to international standards, are processed in air conditioned and dust free environment. This are 100% tested for all parameters using computerised test facilities. (ATCO load cells are readily interchangeable with similar load cells available in the world market). Sony
Music Enters The Market With The Much Awaited Soundtrack Sony Music is ready with their next mega soundtrack "Phir Bhi Dil Hai Hindustani", from Dreamz Unlimited. This album has been launched in the Indian market on December 8, 1999, and is priced at 55 and Rs. 295 for Cassettes and CDs respectively. Sony Music launched a single album, "Phir Bhi Dil Hai Hindustani - Freedom Mixes" featuring the title song "Phir Bhi Dil Hai Hindustani", on December 1, 1999. This has special significance, since, it is for the first time, that such an innovative concept of releasing a single before the main album, has been done by any record company in India. The single features apart from the lead track "Phir Bhi Dil Hai Hindustani", 3 additional re-mixes, all mixed by well-known DJs like Akbar Sami and Bally Sagoo and Partners In Rhyme from UK. Phir Bhi Dil Hai Hindustani is the debut film of Dreamz Unlimited. This banner has been jointly floated by Aziz Mirza, Juhi Chawla and Shah Rukh Khan. The film revolves around the motto "love.... laughter and freedom". The storyline focuses on the war between the lead pair Shah Rukh and Juhi, who work for two rival TV channels. Their entire life is spun around creating a sensation, even from the most mundane situations. The film is a sarcastic throwback on today's maddening race to get sansational news. Within this media war is encapsulated, Shah Rukh and Juhi's love story, which is breezy and light, based on incidents which happens in real life. The essence has been captured on film by ace cinematographer Santosh Sivan, and, Farah Khan, the popular choreographer, has lent her skills at adept dance direction throughout the film. Phir Bhi Dil Hai Hindustani is directed by Aziz Mirza. The music has been composed by the talented duo Jatin - Lalit, with lyrics by the famed poet - lyricist Javed Akhtar. There are 8 memorable tracks in all. The songs have been rendered by wellknown singers like Udit Narayan, Abhijit, Alka Yagnik, Jaspinder Nirula, Sonu Nigam and Shankar Mahadevan among others. Once again a hard-hitting marketing strategy has been put into place for Phi Bhi Dil Hai Hindustani. The title song video, which is being aired on all music channels, showcases the full track for the very first time. The specially shot video features the stars, a new concept totally. Another aspect of marketing strategy will focus on the association of major corporate sponsors like Pepsi, Swatch Watches, among others, in finding a perfect brand fit with the product. Speaking on behalf of Dreamz Unlimited, Shah Rukh Khan opined that, "It was a pleasure working with Sony Music during Kuch Kuch Hota Hai, and this experience reiterated my belief in Sony Music being the best in the industry and therefore the decision to work with them again for my home production, Phir Bhi Dil Hai Hindustani. With Sony Music's experience in the music industry, many firsts come out of it. For the first time we have come up with the concept of a full song video for the film title track. This was shot separately and has been received well. I sincerely hope my association with Sony Music grows with time." Dreamz Unlimited for Shah Rukh, "represents our combined vision for quality cinema. Social issues incorporated with entertainment value, which gives birth to a path, a dream to provide direction. Aziz, Juhi and myself at Dreamz Unlimited, envisage to provide the same meaning to cinema. Working together in "Raju Ban Gaya Gentleman" and "Yes Boss" only cemented the similarity in our outlook and perspective towards life and film-making. Today we are here to share our dream, "Phir Bhi Dil Hai Hindustani." Sony Music's Managing Director, Vijay Singh is pleased when he says, "Sony Music is produced to be associated with Dreamz Unlimited and the great talent associated with it. We wish them all success with their maiden film. We are very excited about the soundtrack of Phir Bhi Dil Hai Hindustani,which has great contemporary melodies, which will appeal across all age groups. Once again, kudos to Jatin - Lalit for their superb effort!" Sony Music India, is a wholly owned subsidiary of Sony Music Entertainment Inc., (SMIE), New York. SMIE is the world's largest recod company with a turnover of over US $4 billion. In India, Sony Music commenced full-fledged operations in 1996-97. It is the only integrated music company in India, with sophisticated manufacturing, marketing and distribution infrastructure. |
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