Govt may go for strategic sale in IFCI

 

 

 

 

 

NEW DELHI:

 After acquiring a majority control in IFCI, the government may opt for a strategic sale as part of its plan to dilute its stakeholding in what was the country's oldest financial institution. Sources said the view in government is that the Centre has managed to realize a good value on its investment of Rs 900 crore, which was given to IFCI by way of convertible shares at the start of the millennium.

But given that it does not have a business plan for it, the best route would be to sell it to another player, especially when development financial institutions that specialized in offering term loans are no longer seen to be relevant.

In fact, when IFCI shareholders tried to rope in a strategic investor five years ago, the uncertainty over how the government would deal with the convertible shares had resulted in muted response. In fact, with Sterlite being the only remaining player in the fray, the sale process was abandoned. 

 

AVINASH KUMAR

 PGDM 1 st year

 

 

 

Stock market update

Mumbai: At 14: 14 p.m.: * The 30-share BSE index Sensex is up 0.17 percent while the 50-share NSE Nifty index rises 0.1 percent.
* Tata Motors Ltd gains 4.8 percent after briefly plunging as much as 10 percent on Friday because of a technology trading glitch from brokerage Religare Capital Markets.
* Power Finance Corp Ltd and Rural Electrification Corp Ltd shares gain over 4 percent each on speculation the government is preparing to offer new incentives to revive stalled power projects.
* ICICI Bank adds 1.8 percent after falling 3.4 percent in the previous two sessions.
* Bank of Baroda shares fall 6.5 percent after the bank's October-December earnings disappointed investors.
* Shares in IDFC fell 4.5 percent after the lender and consultant for infrastructure projects registered a weak loan growth in the December quarter.



Kushnak Singhal

Stock market update

Mumbai: At 14: 14 p.m.: * The 30-share BSE index Sensex is up 0.17 percent while the 50-share NSE Nifty index rises 0.1 percent.
* Tata Motors Ltd gains 4.8 percent after briefly plunging as much as 10 percent on Friday because of a technology trading glitch from brokerage Religare Capital Markets.
* Power Finance Corp Ltd and Rural Electrification Corp Ltd shares gain over 4 percent each on speculation the government is preparing to offer new incentives to revive stalled power projects.
* ICICI Bank adds 1.8 percent after falling 3.4 percent in the previous two sessions.
* Bank of Baroda shares fall 6.5 percent after the bank's October-December earnings disappointed investors.
* Shares in IDFC fell 4.5 percent after the lender and consultant for infrastructure projects registered a weak loan growth in the December quarter.


PGDM 2nd
Kushank Singhal

Test

Test

test

ddd

After Hyundai fiasco, will more auto companies admit to overstated mileage?

Hyundai Motor Co's admission that it overstated fuel economy claims on several of its top-selling cars has the industry worried, with speculation rife among executives and analysts at the Los Angeles auto show that more automakers may have to do the same.

Four weeks ago, Hyundai and its affiliate Kia Motors Corp conceded that they overstated the fuel economy by at least a mile per gallon on more than 1 million recently sold vehicles.

"I think we might see more of this," said Jake Fisher, the head of automotive testing at Consumer Reports. "There are other vehicles that don't really stack up to the EPA estimates."

Hyundai, which had centered marketing campaigns on superior fuel economy, says that so far its US sales have not been affected by the admission. But it has had to implement a compensation campaign that Moody's Investors Service estimates could cost them $100 million a year until the cars are scrapped. It also faces lawsuits over the matter.   
         

ravi kumar /pgdm 1st

Strategies adopted by Zensar Technologies to become a billion dollar enterprise in four years?

few months ago, Zensar TechnologiesBSE 3.30 % won the Porter Prize for the best strategy process in the IT & Communications sector — the first time the prize, named after strategy uber-guru Michael Porter was held outside Japan in India.

For the RPG Group firm, it was just further validation of its efforts to ensure that it was indeed relevant in a crowded sector.

The Porter prize was awarded to the company for 'creating a competitive advantage by aligning its strategy to customer centricity and continuous innovation' and vicechairman & CEO Ganesh Natrajan says that the company's focus has been on innovation since inception.

"When we started in 2001, we were a brand new software company with no reason to exist. We had to have a different point of view if we were to be taken seriously and do something different from our more established peers. We wanted to be a company clients would come to if they wanted to challenge the way they did software development," he says. The focus seems to be paying off.