Rupee hits 8 1/2 month low on dollar demand from oil firms

The rupee hit an 8-1/2 month low on Wednesday as global gains in the dollar ahead of the release of US Federal Reserve minutes later in the day and slumping crude prices spurred oil firms to accelerate their greenback purchases.
Fed minutes come amid rising expectations the US central bank is moving towards eventual rate hikes, in contrast to the European Central Bank or the Bank of Japan.
Any US rate hikes could end up hitting emerging market currencies such as the rupee, despite the accommodative stances in countries outside the United States.

But traders say relatively better economic fundamentals in India could protect the rupee from steep falls compared with other emerging market currencies.
"The dollar demand from oil companies should continue at least till the end of the month," said Anish Vyas, a currency analyst at Angel Securities in Mumbai.
"However, hopes of rate cuts and positive reforms from the government should limit any major fall in the rupee." The partially convertible rupee closed at 61.96/97 per dollar versus its previous close of 61.74/75, after earlier touching a low of 61.9950, its weakest level since March 4.
Falls came after the dollar hit a fresh seven-year high against the yen on Wednesday, and held near a 14-month peak versus sterling, ahead of the Fed minutes.
Meanwhile, Brent crude oil slipped towards $78 a barrel on Wednesday as data showed Saudi Arabia increased crude exports in September. Slumping crude prices have spurred Indian oil refiners to augment their oil stocks.
In the offshore non-deliverable forwards, the one-month contract was at 62.26/36, while the three-month was at 62.83/93.


VIJAY KR YADAV
PGDM 2ND YEAR
SOU- TIMES OF INDIA

NEWS: ‘Brand design’ most outsourced task by B2B marketers

 

B2B marketers employ freelancers to execute ‘brand design’ tasks over and above anything else, new data published by PeoplePerHour has revealed.
The research looked at tasks B2B marketers have requested most via the PeoplePerHour platform over the last year. ‘design’ tasks accounted for 12 per cent of requests, followed closely by website design tasks at 10 per cent and wBrand riting tasks at six per cent.
Here’s a list of the top 10 tasks B2B marketers freelance out:

Position	Task
1	Design
2	Writing
3	Website development
4	Social media
5	Custom website
6	Business support
7	Identity design
8	Logo
9	Website design
10	Sales

Meanwhile, over the past year there has been a 140 per cent increase in the amount of tasks marketers have executed using online marketplaces for freelance services.  
Xenios Thrasyvoulou, founder of PeoplePerHour and SuperTasker, commented on the findings: “Figures from the PeoplePerHour site highlight that the areas B2B marketers are particularly looking for freelance support with are brand and web design.
"This means that these marketers are able to utilise the army of hyperspecialised freelancers now available through the web at a moment’s notice, rather than having to learn to code or use complicated design software. Freeing these senior marketers up to focus on more important tasks like the overall brand strategy, rather than worrying about the accuracy of their HTML code – which can instead be left to a true specialist.
akanksha sanu
pgdm 2 year 
comment-
design’ tasks accounted for 12 per cent of requests, followed closely by website design tasks at 10 per cent and wBrand riting tasks at six per cent.

Infosys likely to lay off six more employees after firing CFO for code of conduct breach

 

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inShare537

New Delhi: More heads will roll at Indian IT bellwether Infosys Ltd following the sacking of finance chief of the company's business process outsourcing.

Infosys had on Wednesday fired its BPO unit CFO Abraham Mathews for not complying with the company`s code of conduct.

A financial daily on Thursday reported that Infosys will sack six more employees to underscore company's zero tolerance towards financial misconduct.

Reportedly, the case involves financial irregularities and overbilling pertaining to one of company's top clients, Apple. The paper, quoting sources said that the six staffs will be laid off after internal investigations are completed.

Infosys, in a stock market filing, had also said the unit`s chief executive, Gautam Thakkar, had resigned on "moral grounds" and would leave the company on Nov 30.

Infosys named Anup Uppadhayay and Deepak Bhalla, both company veterans, as the unit`s chief executive and chief financial officer respectively.


With Agency Inputs
sumit kumar singh
pgdm 2 year
co
comment- A financial daily on Thursday reported that Infosys will sack six more employees to underscore company's zero tolerance towards financial misconduct.

Coal prices, Mundra plant key for Tata Power How coal prices move and whether there is clarity on compensatory tariffs it will get for Mundra plant are critical for Tata Power

Tata Power has only 800 megawatts (MW) capacity that will come up over the next four-five quarters or so. Photo: Priyanka Parashar/Mint


 Tata Power Co. Ltd’s earnings growth outlook over the medium term is wholly dependent on two things—how global coal prices move and whether there is clarity on the compensatory tariffs it will get for the Mundra power plant. While the appellate authority on electricity had awarded Tata (and Adani Power Ltd) a compensatory tariff for its imported coal-based power plant, the Supreme Court has asked the tribunal to revisit the issue. If Tata had chosen to book the tariff (which it has not), its September quarter revenue would have been boosted by another Rs.164 crore, which would have flowed straight to profits. The Mundra subsidiary posted a net loss of Rs.274 crore in the September quarter. However, it needs to be noted that even after accounting for the compensatory tariff, the plant would have made losses of 21 paise per unit of electricity sold during the quarter. Continuing losses at this plant have forced the company to provide Rs.2,650 crore as impairment charges over fiscals 2012 and 2013. The quantum of compensatory tariff and its time of implementation thus remains a huge shadow over Tata Power’s earnings. Mundra is all 

NITESH KUMAR SINGH
PGDM 3RD S

Toyota mulling bringing more hybrid vehicles in India

Buoyed by the response to its hybrid sedan Camry, Japanese auto major Toyota is mulling bringing more such vehicles with alternate fuel technology in India. 

The company, which is present in India in a joint venture with the Kirloskar group — Toyota Kirloskar Motor, is celebrating the first anniversary of its Camry Hybrid in India during which it has sold 541 units. 
"Currently 75% of Camry sales are hybrid. The vehicle has been appreciated for its ideal combination of a luxury sedan and hybrid technology. Looking at the response we are encouraged to consider bringing more hybrid vehicles to India," TKM director and senior vice-president (Sales and Marketing) N Raja said in a statement. 
The Camry hybrid is manufactured at a separate assembly line within Toyota Kirloskar Motor's second plant located in Bidadi, near Bengaluru. Globally India is the 9th country to manufacture Toyota hybrid vehicles. 

The Camry hybrid automatic transmission is currently priced at Rs 30 lakh (ex-showroom Delhi). 

On completion of Camry hybrid's one year in India, Raja said: "We would like to see increasing sales of Hybrid in India. We look forward to one and all joining us in this drive to popularise this technology and its use." 

Outlining Toyota's goal of taking the lead in making eco-friendly cars, TKM Managing director said: "Energy crisis and increasing pollution are some of the gravest problems faced by the world today. Toyota aims to lead the future of mobility by addressing these challenges." 
He said Toyota achieved an important milestone with its cumulative global hybrid sales crossing the 7 million mark, in October this year.

A hybrid vehicle has more than one power source to move the vehicle.

Comment:-

India has a good colaboration with  this japanese company and as Toyota has launched new hybrid car Camry it si going to launch this new vehicle in India because India seems to be a very good market for Hybrid cars , its price is affordable and its looks is amazing  and this will achieve great success.  

AKANKSHA SHANU

PGDM 3RD SEMESTER

2013-15.

Zomato raises $60 million from new and existing investors.

Zomato raises $60 million from new and existing investors.

New Delhi: Restaurant search and discovery portal Zomato said it has raised $60 million in a fresh round of funding from new and existing investors, valuing the company at $660 million. The funding round was led jointly by existing investor Info Edge (India) Ltd and new investor Vy Capital, with participation from Sequoia Capital. 

 

 

The Gurgaon-based company plans to use the funds to accelerate its global expansion and develop new products. Zomato has earlier raised $53 million from Info Edge (India) Ltd and Sequoia Capital over multiple rounds. “Zomato is one of the first Internet companies out of India with a consumer product that is scaling on a global basis and a team that is executing extremely well against the opportunity. 

 

 

We look forward to being long-term partners of the company as it establishes itself among the global Internet leaders,” said Alexander Tamas, Founding Partner of Vy Capital. Founded in in 2008 by Deepinder Goyal and Pankaj Chaddah, the company in 2013 raised close to $37 million from Sequoia Capital and Info Edge (India) Ltd, an India-listed company which owns the job portal Naukri.com. In total, the company has raised $113 million and currently employs over 900 people in more than 100 cities in 18 countries. 

The company, which has been rapidly expanding its international presence over the past two quarters, is now present in 16 countries. Zomato recently acquired Gastronauci, Poland’s leading restaurant search service. Over the next year, Zomato plans to expand to 14 more countries across Europe, Southeast Asia, Australia and the Americas, the company said. Zomato provides detailed restaurant information such as menus, contact details, pictures, geo-coded maps and user reviews for over 300,000 restaurants. The company claims to have over 30 million visits across its web and mobile platforms every month. 0 inShare Comments Subscribe to: Daily Newsletter Breaking News Zomato Info Edge Funds Investments Sequoia.

COMMENT:-The Gurgaon-based company plans to use the funds to accelerate its global expansion and develop new products. Zomato has earlier raised $53 million from Info Edge (India) Ltd and Sequoia Capital over multiple rounds. “Zomato is one of the first Internet companies out of India with a consumer product that is scaling on a global basis and a team that is executing extremely well against the opportunity.

 

Rahul kumar Gupta

PGDM, 3rd SEM

Sensex, Nifty scale new peaks; SBI, Tata Motors in limelight

PTI  Mumbai, November 17, 2014

First Published: 16:58 IST(17/11/2014) | Last Updated: 17:05 IST(17/11/2014)

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Indian stocks on Monday galloped to a new highs with benchmark Sensex surging 131.22 points to 28,177.88 and Nifty rising 40.85 points to end at 8,430.75 boosted by solid buying in bluechips, like SBI and Tata Motors, and positive cues on the trade deficit front.

The 30-share BSE Sensex after opening in negative zone dropped further to touch the day's low of 27,921.34 on profit-taking at high levels and a weak trend at the other Asian bourses after data showed Japan slipped into recession.
Later, emergence of buying, spread over a broad front, helped the Sensex stage a strong comeback to hit an intra-day record high of 28,205.71, surpassing its earlier record of 28,126.48 reached on November 12. It settled for the day at 28,177.88, new record close, and gained 131.22 points or 0.47%. Its previous record close was 28,046.66 (Nov 14).

Sentiment was boosted after stocks led by banking, power and capital sectors rallied. Trade deficit in October fell to $ 13.35 billion compared to $ 14.2 billion in September.
"Indian markets closed at new record high after trade deficit data narrowed...Growth story becomes very positive compared to its global peers. FII inflow should take markets to newer highs of 29000 on Sensex and 8700 On Nifty by December," said Rajshekar Gowda, Senior Analyst, HBJ Capital.
Of the 30-share Sensex, 18 scrips ended with gains, while 12 others ended in negative zone. Country's largest lender SBI rose by 5.44% to close at its 52-week high of Rs. 2,940.15. Other gainers which supported the key index to hit new highs include Tata Motors (up 4.07%), Hero MotoCorp (2.15%), NTPC (1.71%), RIL (1.47%), BHEL (1.20%) and Bharti Airtel (1.04%).
RAJ KISHORE SHARMA
PGDM 3RD SEM
The 50-scrip NSE Nifty, after dipping to 8,349.10 at the outset, rebounded to breach the 8,400-mark to hit a new lifetime intra-day high of 8,438.10. It also ended at fresh all-time high of 8,430.75, up 40.85 points, or 0.49%.
This beat its previous closing peak of 8,389.90 touched on November 14. Also, its previous intra-day record high was 8,415.05 on November 12. Foreign Portfolio Investors had bought shares worth a net Rs. 645.90 crore last Friday, according to provisional data.
Sectorwise, the BSE Power index rose by 1.54%, Banking by 0.41%, Auto by 1.43%, and Consumer Durables by 0.91%, among others.