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Wednesday, August 29, 2012
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Wednesday, March 16, 2011
PE Sequoia plans $600 mn investment in India
HYDERABAD: Private-equity firm Sequoia Capital plans to invest $600 million in various companies in India over the next four to five years, a top company official said here Tuesday.
Sequoia, which manages about $1.5 billion funds in India, has already invested $900 million.
GV Ravishankar, managing director, Sequoia Capital India, told reporters that the investment would be in sectors like healthcare, education and agri-infrastructure.
The firm plans to focus on investment in start-ups. 'We will focus on early stage entrepreneurship and will support both tech and non-tech companies,' he said.
The investment in each firm will range from a couple of crores to Rs.25 crore, he added.
Sequoia exited three companies last year after they went public. It is likely to exit six to seven more firms in 12 to 18 months. The investments range from $5 million to $25 million.
Ravishankar said education would be one of the key sectors for Sequoia's future investment. He announced Rs.25 crore investment in K12 Techno Services Pvt. Ltd.
This would be the second round of investment into K12 by Sequoia along with SONG Investment Advisors. They had invested Rs.75 crore last year.
K12 manages over 70 English-medium schools run by 15 different trusts under the Gowtham Model School brand in Andhra Pradesh.
The funds will be utilised for growth as well as modernisation of classrooms, use of superior technology and upgradation of infrastructure.
Venkataranarayana, managing director, K12 Techno Services, said they require another Rs.200 crore in the next two to three years to fund their expansion plans.
K12 plans to open 25 new schools in Andhra Pradesh this year and set up 30 to 40 schools in Orissa and Chhattisgarh next year.
It has also identified Karnataka and Maharashtra for further expansion.
Sequoia, which manages about $1.5 billion funds in India, has already invested $900 million.
GV Ravishankar, managing director, Sequoia Capital India, told reporters that the investment would be in sectors like healthcare, education and agri-infrastructure.
The firm plans to focus on investment in start-ups. 'We will focus on early stage entrepreneurship and will support both tech and non-tech companies,' he said.
The investment in each firm will range from a couple of crores to Rs.25 crore, he added.
Sequoia exited three companies last year after they went public. It is likely to exit six to seven more firms in 12 to 18 months. The investments range from $5 million to $25 million.
Ravishankar said education would be one of the key sectors for Sequoia's future investment. He announced Rs.25 crore investment in K12 Techno Services Pvt. Ltd.
This would be the second round of investment into K12 by Sequoia along with SONG Investment Advisors. They had invested Rs.75 crore last year.
K12 manages over 70 English-medium schools run by 15 different trusts under the Gowtham Model School brand in Andhra Pradesh.
The funds will be utilised for growth as well as modernisation of classrooms, use of superior technology and upgradation of infrastructure.
Venkataranarayana, managing director, K12 Techno Services, said they require another Rs.200 crore in the next two to three years to fund their expansion plans.
K12 plans to open 25 new schools in Andhra Pradesh this year and set up 30 to 40 schools in Orissa and Chhattisgarh next year.
It has also identified Karnataka and Maharashtra for further expansion.
No fear of radiation impact on India: Sinha !!!
KOLKATA: Eminent nuclear scientist Bikash Sinha today dispelled fears of any impact on India from radiation following explosions in the Fukushiama nuclear power plant in Tsunami-hit Japan.
"I am in touch with the Nuclear Power Corporation and is convinced that the situation is not at all alarming for India which is far, far away from Japan ," Sinha said.
He dismissed all speculation of the radiation hazard as 'absolutely baseless'.
Sinha said his information was that the second explosion rocked the plant at 3 PM on Sunday.
"I am in touch with the Nuclear Power Corporation and is convinced that the situation is not at all alarming for India which is far, far away from Japan ," Sinha said.
He dismissed all speculation of the radiation hazard as 'absolutely baseless'.
Sinha said his information was that the second explosion rocked the plant at 3 PM on Sunday.
Japanese investment in India will be affected: Rangarajan !!!
MUMBAI: The Chairman of the Prime Minister's Economic Advisory Council , C Rangarajan , on Tuesday said the ongoing crisis in Japan would have an impact on investment route and trade.
"The impact will be somewhat indirect. To some extent, Japanese investment in India will be affected because there will be so much of demand for investment within the country and there will be very little available to invest outside," said Rangarajan.
"So that would be warning fact. And the other is impact on trade, which may perhaps weaken our exports to Japan, but the impact that I see, it is only to the investment route," he added.
Market analysts said the investors are unsure about the outcome of the Japan crisis, and found it difficult to ascertain the negative impact on Indian markets.
"Unfortunately, this earthquake in Japan has again sent the market where investors are not sure about the outcome of this earthquake, meaning how much the economy, the global economy will have impact of this earthquake in Japan," said Sunil Shah, an analyst.
"Japan is the third largest economy and if things come to a grinding halt, then what would be the overall impacts; so it's very difficult to ascertain or assess how much negative impact this earthquake can have," he added.
The Bombay Stock Exchange ( BSE )) benchmark Sensex recovers over 300 points in afternoon trade today after loosing over 486 points in opening trade. The Sensex was trading 18,261, down by over 177 points a short while ago.
The markets across Asia have also declined. The Hang Seng has fallen 3.83 per cent, the South Korean Kospi declined 3.43 per cent and the Chinese markets have fallen 2-3 per cent.
"The impact will be somewhat indirect. To some extent, Japanese investment in India will be affected because there will be so much of demand for investment within the country and there will be very little available to invest outside," said Rangarajan.
"So that would be warning fact. And the other is impact on trade, which may perhaps weaken our exports to Japan, but the impact that I see, it is only to the investment route," he added.
Market analysts said the investors are unsure about the outcome of the Japan crisis, and found it difficult to ascertain the negative impact on Indian markets.
"Unfortunately, this earthquake in Japan has again sent the market where investors are not sure about the outcome of this earthquake, meaning how much the economy, the global economy will have impact of this earthquake in Japan," said Sunil Shah, an analyst.
"Japan is the third largest economy and if things come to a grinding halt, then what would be the overall impacts; so it's very difficult to ascertain or assess how much negative impact this earthquake can have," he added.
The Bombay Stock Exchange ( BSE )) benchmark Sensex recovers over 300 points in afternoon trade today after loosing over 486 points in opening trade. The Sensex was trading 18,261, down by over 177 points a short while ago.
The markets across Asia have also declined. The Hang Seng has fallen 3.83 per cent, the South Korean Kospi declined 3.43 per cent and the Chinese markets have fallen 2-3 per cent.
US experts say Japan tragedy should not stop India from pursuing nuke energy options
WASHINGTON: Two American principals who were instrumental in pushing the US-India civilian nuclear deal said on Monday that New Delhi could not afford to forsake nuclear energy even in the wake of the tragedy in Japan although the disaster will have a salutary effect on India's choice of sites and technology.
Carnegie Endowment's Ashley Tellis and US-India Business Council's Ron Somers, who propelled the nuclear agreement within the American strategic and business community respectively, maintained that India must and will continue to embrace nuclear power given the enormous energy deficit the country faces, shortage that cannot be met from any one source.
"India does not have the luxury of renouncing nuclear power," the Mumbai-born Tellis said at a conference on "The Rise of India," hosted by theAmerican Enterprise Institute. "What India will push for is to be more careful about where plants are sited...that is salutary. It will insist that (nuclear reactor) designs are validated a lot more. I don't think there will be a downward revision (of nuclear power targets)."
India plans to increase its nuclear power production from its current 4000 MW installed capacity to 20,000 MW by 2020 and 40,000 MW by 2030 in one of the largest expansions in the world. The earthquake-induced tragedy in Japan has opponents of nuclear power up in arms over a source and technology that is seen by them to be of a catastrophic nature.
But USIBC's Somers maintained that the Japanese designs were of 1972 vintage and current technology would have coped better with the circumstances. "In that sense, it is a blessing India is getting its civilian nuclear program started now because new technology in the event of such an earthquake would automatically shut down (the reactor) and there won't be a possibly of meltdown," Somers said.
Critics of this line of argument, who have already been venting about India considering untested technology for its new projects, say there is no way to insure against catastrophic incidents. That's something even proponents of nuclear power agree, even as they point out that Indian plants have withstood temblors and a tsunami. Already, there is a surge of risk aversion towards nuclear energy across the world, with Germany announcing on Monday that it was taking seven pre-1980 nuclear power plants offline.
But Carnegie's Tellis said that while the Japan tragedy is going to "give India pause" it won't lead to any fundamental revision of targets. "The reason for that is India needs more of everything fast. It needed it yesterday," he said. "Even if all the sources of power were produced on time and very efficiently, India will be confronted with a deficit in terms of power generation. There is no way the arithmetic of demand and supply add up."
Somers too agreed that the Japan tragedy "will it be a setback for nuclear renaissance" and will cause people to think twice about nuclear power as an energy source, but said India should not back down from the nuclear power option. India's energy needs are 70 per cent dependant on hydrocarbons and rising oil prices among other factors spelled danger for food price inflation, which was a potent political issue in India.
Carnegie Endowment's Ashley Tellis and US-India Business Council's Ron Somers, who propelled the nuclear agreement within the American strategic and business community respectively, maintained that India must and will continue to embrace nuclear power given the enormous energy deficit the country faces, shortage that cannot be met from any one source.
"India does not have the luxury of renouncing nuclear power," the Mumbai-born Tellis said at a conference on "The Rise of India," hosted by theAmerican Enterprise Institute. "What India will push for is to be more careful about where plants are sited...that is salutary. It will insist that (nuclear reactor) designs are validated a lot more. I don't think there will be a downward revision (of nuclear power targets)."
India plans to increase its nuclear power production from its current 4000 MW installed capacity to 20,000 MW by 2020 and 40,000 MW by 2030 in one of the largest expansions in the world. The earthquake-induced tragedy in Japan has opponents of nuclear power up in arms over a source and technology that is seen by them to be of a catastrophic nature.
But USIBC's Somers maintained that the Japanese designs were of 1972 vintage and current technology would have coped better with the circumstances. "In that sense, it is a blessing India is getting its civilian nuclear program started now because new technology in the event of such an earthquake would automatically shut down (the reactor) and there won't be a possibly of meltdown," Somers said.
Critics of this line of argument, who have already been venting about India considering untested technology for its new projects, say there is no way to insure against catastrophic incidents. That's something even proponents of nuclear power agree, even as they point out that Indian plants have withstood temblors and a tsunami. Already, there is a surge of risk aversion towards nuclear energy across the world, with Germany announcing on Monday that it was taking seven pre-1980 nuclear power plants offline.
But Carnegie's Tellis said that while the Japan tragedy is going to "give India pause" it won't lead to any fundamental revision of targets. "The reason for that is India needs more of everything fast. It needed it yesterday," he said. "Even if all the sources of power were produced on time and very efficiently, India will be confronted with a deficit in terms of power generation. There is no way the arithmetic of demand and supply add up."
Somers too agreed that the Japan tragedy "will it be a setback for nuclear renaissance" and will cause people to think twice about nuclear power as an energy source, but said India should not back down from the nuclear power option. India's energy needs are 70 per cent dependant on hydrocarbons and rising oil prices among other factors spelled danger for food price inflation, which was a potent political issue in India.
Market to be cautiously optimistic till Japan crisis melts
Domestic market is dealing with a new challenge on the back of the Japan crisis. Japan’s benchmark index Nikkei has dropped almost 10%, creating tremendous pressure on its Asian peers. Meanwhile, concerns over crude have taken a backseat for a while as crude rates have slipped to almost 2%-3% per barrel.
In the view of market experts, market will make cautious gains if it can, otherwise the situation will remain quite volatile.
Anil Manghnani from Modern Shares & Stock Brokers feels that the market has a very little scope to move ahead in the current situation and if the turmoil in Japan becomes worse, then the Niftywill be stuck completely in a range between 5400-5600. Talking about the European markets, which have been adversely hit by the Japan crisis, he said, “The earthquake news has dragged down key indices like CAC, FTSE and the DAX to more than 50 DMA.” He thinks that only the US market has managed to make correction despite of Japanese crisis.
According to Ved Prakash Chaturvedi, Managing Director of Tata Mutual Fund, it is difficult to rule out the losses created by natural calamities and any market would witness around 3%-5% downfall in such situations. However, he believes that if global markets come down from now, Indian market will see more money coming in. “Future of Indian market will depend upon factors like advance tax payments, earnings growth projections, crude prices, and interest rates once the Japanese crisis melts,” he adds.
In fact, he feels that dropping crude prices may benefit Indian market unless the Middle-East situation deteriorates enormously. He also said that as far as midcap stocks are concerned, there will be return of good shares once the Japan woes sway away and market will focus again on midcap-oriented companies with better valuation.
TS Anantakrishnan, Head of Prime wealth Management, said that the market has shown remarkable resilience despite seeing a flow of negative news in Japan and Middle East hitting it. “Market is cautiously bullish and the best part is that the Nifty has refused to fall below 5400,” he said. He further added that investors should invest in midcap stocks that are in the negative terrain as of now.
Agreeing with Anantakrishnan, Nischal Maheshwari, Head of Research at Edelweiss, said that investors are cautiously bullish in the current market situation. At one side, market is making gains on sliding crude prices but on the other side, there are big-time concerns like inflation. Thus, market is watching the pace at which it is moving ahead.
Reacting on the losses marked by the European markets, he said, “Europe has much to worry about as oil is still above USD 110 per barrel and Japanese crisis has created a big challenge for Europe, which is trying to recover from debt.”
Blasts, fire escalate Japan's nuclear crisis
SENDAI: Explosions and a fire at Japan's quake-hit nuclear plant unleashed dangerous levels of radiation on Tuesday, sparking a collapse on the stock market and panic-buying in supermarkets.
Tokyo stocks, which were punished on Monday in a frantic sell-off that sent indexes around the world sliding, plummeted another 14 percent Tuesday before paring some losses and ending 10.55 percent down.
In towns and cities, fearful citizens stripped shelves of food and water, prompting the government to warn that panic-buying could hurt its ability to provide aid to areas devastated by Friday's massive quake and tsunami.
But scared Tokyo residents filled outbound trains and rushed to shops to stock up on face masks and emergency supplies amid heightening fears of radiation headed their way.
Radiation levels around the Fukushima No.1 plant on the eastern coast had "risen considerably", Prime Minister Naoto Kan said, and his chief spokesman announced it had reached the point where it endangered human health.
Tokyo stocks, which were punished on Monday in a frantic sell-off that sent indexes around the world sliding, plummeted another 14 percent Tuesday before paring some losses and ending 10.55 percent down.
In towns and cities, fearful citizens stripped shelves of food and water, prompting the government to warn that panic-buying could hurt its ability to provide aid to areas devastated by Friday's massive quake and tsunami.
But scared Tokyo residents filled outbound trains and rushed to shops to stock up on face masks and emergency supplies amid heightening fears of radiation headed their way.
Radiation levels around the Fukushima No.1 plant on the eastern coast had "risen considerably", Prime Minister Naoto Kan said, and his chief spokesman announced it had reached the point where it endangered human health.
Tuesday, March 15, 2011
Nifty ends at 5450; Japan nuclear crisis weighs
MUMBAI: Indian markets ended in the negative territory Tuesday in line with global peers as leakage of harmful radiation from Japan's nuclear plants weighed sentiments.
The radiation levels in Japan have increased high enough to harm humans after explosion at Fukushima Daiichi nuclear plant which was crippled after the devastating earthquake and tsunami last week, said news reports.
Investors were also wary ahead of Reserve Bank of India's meet Thursday. The central bank is likely to hike rates to curb inflation which rose to 8.31 per cent in February against 8.23 in January.
Indian market opened with a gap-down in line with peers but buying activity in heavy-weight Reliance Industries helped the benchmarks to pare some of the intra-day losses.
"Gross refining margins are expected to be good around $11.8 for this quarter and there's buzz of advance tax payment as well," said, Anita Gandhi, whole time director, Arihant Capital .
Bombay Stock Exchange's Sensex ended at 18167.64, down 271.84 points or 1.47 per cent. The 30-share index touched a low of 17920.55 and high of 18326.33 intraday.
National Stock Exchange's Nifty closed at 5449.65, down 81.85 points or 1.48 per cent. The broader index touched a low of 5373.65 and high of 5497.85 intra-day.
"Volatility will continue for next few sessions due to crisis in Japan. There are concerns of harmful radiation spreading further and if Japanese funds start selling actively then it will put some pressure on the market. Market will also keenly await RBI's meet outcome. 5400 looks like a good support and the Nifty may hold on to it," she added.
BSE Midcap Index was down 1.43 per cent and BSE Smallcap Index moved 1.163 per cent lower.
Amongst the sectoral indices, BSE Realty Index fell 3.14 per cent, BSE Auto Index declined 2.03 per cent and BSE Metal Index was down 2.02 per cent. BSE Oil&gas Index was up 0.32 per cent.
Sesa Goa (-4.12%), Reliance Power (-4.01%), Jaiprakash Associates (-3.98%), Maruti (-3.61%) and DLF (-3.46%) were the major Nifty losers.
Reliance Industries (1.73%), Siemens (1.16%), Sun Pharma (0.93%), ACC (0.20%), Reliance Capital (0.20%) and BPCL (0.10%) were the only index gainers.
Market breadth was negative on the NSE with 1987 declines against 841 advances.
The radiation levels in Japan have increased high enough to harm humans after explosion at Fukushima Daiichi nuclear plant which was crippled after the devastating earthquake and tsunami last week, said news reports.
Investors were also wary ahead of Reserve Bank of India's meet Thursday. The central bank is likely to hike rates to curb inflation which rose to 8.31 per cent in February against 8.23 in January.
Indian market opened with a gap-down in line with peers but buying activity in heavy-weight Reliance Industries helped the benchmarks to pare some of the intra-day losses.
"Gross refining margins are expected to be good around $11.8 for this quarter and there's buzz of advance tax payment as well," said, Anita Gandhi, whole time director, Arihant Capital .
Bombay Stock Exchange's Sensex ended at 18167.64, down 271.84 points or 1.47 per cent. The 30-share index touched a low of 17920.55 and high of 18326.33 intraday.
National Stock Exchange's Nifty closed at 5449.65, down 81.85 points or 1.48 per cent. The broader index touched a low of 5373.65 and high of 5497.85 intra-day.
"Volatility will continue for next few sessions due to crisis in Japan. There are concerns of harmful radiation spreading further and if Japanese funds start selling actively then it will put some pressure on the market. Market will also keenly await RBI's meet outcome. 5400 looks like a good support and the Nifty may hold on to it," she added.
BSE Midcap Index was down 1.43 per cent and BSE Smallcap Index moved 1.163 per cent lower.
Amongst the sectoral indices, BSE Realty Index fell 3.14 per cent, BSE Auto Index declined 2.03 per cent and BSE Metal Index was down 2.02 per cent. BSE Oil&gas Index was up 0.32 per cent.
Sesa Goa (-4.12%), Reliance Power (-4.01%), Jaiprakash Associates (-3.98%), Maruti (-3.61%) and DLF (-3.46%) were the major Nifty losers.
Reliance Industries (1.73%), Siemens (1.16%), Sun Pharma (0.93%), ACC (0.20%), Reliance Capital (0.20%) and BPCL (0.10%) were the only index gainers.
Market breadth was negative on the NSE with 1987 declines against 841 advances.
Tuesday, February 22, 2011
Telecom Monthly
Effects of Mobile Number Portability (MNP) set in |
India’s GSM subscriber base grew by 2.53% in January from the previous month with the addition of 13.71 million new mobile phone users. According to data released by the COAI, the total number of GSM subscribers in the country crossed 556.68 million as against 542.97 million in December. Bharti Airtel alone saw addition of over 3.3 million new users. Vodafone added 3.1 million new subscribers in January, taking its total base of 127.36 million subscribers. Idea Cellular followed up with an addition of 2.51 million new subscribers, taking its total base to 84.29 million. |
Wednesday, January 19, 2011
Market Insight 19 January 2011
Our Recommendations | 19 January, 2011 |
MPHASIS LTP RS.681.05 BUY BETWEEN RS.675-679 STOP LOSS RS.659 TARGET RS.714 FOR 3-5 TRADING SESSIONS. | |
Fundamental Daily
| ||||||
Tuesday, January 18, 2011
My Recommendations | 18 January, 2011 |
TATAGLOBAL LTP RS.104.90 BUY BETWEEN RS.103-104 STOP LOSS RS.100 TARGET RS.111 FOR 3-5 TRADING SESSIONS. | |
Fundamental Daily | |
Markets end flat, broader indices fall Equity markets closed an extremely a volatile session on a flat note on Monday while broader markets underperformed benchmarks. The 50-share NSE Nifty settled at 5654.75, up just 0.2 points, while the 30-share BSE Sensex closed at 18,882, with a gain of just 22 points. BSE Smallcap and Midcap indices fell over a percent. Sell-off was seen in capital goods, realty, metal, oil & gas and shares of select auto companies. On other side, support was lend by technology, financials, barring ICICI Bank, along with Bharti-Airtel, ITC, Cipla and NTPC. | |
Technical Analysis | |
• THE SHORT TERM TREND OF NIFTY IS DOWN IN OUR DAILY NEWSLETTER FROM 07TH JAN, 2011. • ON THE FIRST TRADING SESSION OF THE WEEK, INDEX ENDED ON FLAT NOTE BUT MANAGED TO SUSTAIN ABOVE THE CRUCIAL SUPPORT ZONE OF 200 EMA ON THE DAILY CHART FOR THE SECOND CONSECUTIVE SESSION. • STOCKS WITH THE BULLISH BIAS ALBK, BHARTIARTL, CAIRN, CIPLA, HCLTECH, INFOSYSTECH, IRB, JINDALSAW, LUPIN, OFSS, & ORCHID CHEM. • STOCKS WITH THE BEARISH BIAS HINDALCO, PIRHEALTH, SIEMENS & SINTEX. • ADVANCE/DECLINE NUMBERS (NSE) ADVANCE – 308 DECLINE – 1082 • SECTORS PERFORMANCE FROM THE SECTORAL FRONT, IT REMAINED MIXED SESSION WITH MAJORITY OF PIVOTS ENDING ON THE NEGATIVE NOTE. I.T. AND TECK WERE THE TOP GAINERS WHILE REALTY AND METAL WERE ON THE LOSING SIDE. • GLOBAL MARKET UPDATE (*at 5:00 pm IST) US MARKETS - CLOSED ( HOLIDAY). EUROPEAN MARKETS - MIXED ASIAN MARKET S - MIXED • NIFTY INTRADAY LEVELS Sup – 5625-5570 Res – 5700-5740. |
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