et news (1 to 5 NOV)


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et news (1 to 5 NOV)

  1. 1. By: Nitin Kochhar MBA 2C
  2. 2. OVL may buy Exxon stake in Angolan block for $2 b  India’s largest explorer, Oil & Natural Gas Corp (ONGC), is in talks with global energy giant ExxonMobil’s Angolan arm, Esso Exploration, to buy its 25% stake in a discovered oil field for about $2 billion.  ONGC Videsh, or OVL is the foreign arm of state-run ONGC.  The block will produce 300,000 barrels of crude oil per day by 2012 at its peak.  OVL is expected to face tough competition from Chinese oil companies
  3. 3. Old is Gold: Ponds to take on Olay  India’s largest consumer products company, HUL, is set to counter P&G’s anti-ageing cream, Olay.  HUL is launching more than half-a-dozen premium products from the Ponds Gold Radiance portfolio.  Anti-ageing segment accounts for 10% of the total skin care market.  In Sept, Ponds had a 16.5% share, Garnier 18.9% share.
  4. 4. Contd…  Olay with 36.7% share tops the anti-ageing segent.  Ponds Gold Radiance, priced between Rs. 500-Rs.1,000 will be most expensive brand in HUL’s skin care portfolio, a business that is the most profitable segment for the company.  Skin care segment is worth of Rs. 3500 crore.  HUL is the market leader controlling over half the market with popular mass brands such as Fair & Lovely and Vaseline.
  5. 5. Maruti Suzuki sales cross 1 lakh mark  Boost in sales in October.  Easy finance and festive season drove up demand.  Crossed 1 lakh mark for the first time in its 27–years history driven mainly by the strong demand for its fuel-efficient compact cars such as Alto and Wagon R.  M&M posted a strong growth of 34% in its domestic sales.  Tata motors’ sales increase by 22%.  The country’s largest automaker’s small car Nano is struggling to draw customers.
  6. 6. SBI finally begins to realise growth’s on cards  Targeting upper-middle class with a Platinum card that offers a wide range of benefits and has a low entry barrier.  SBI cards, a 60:40 JV between SBI and GE Capital.  The cards company has reported a loss of Rs. 321 crore fpr 2008-09.  The whole industry had seen a 33% drop in the number of cards from 27-28 million to 18 million.
  7. 7. Contd…  Plans to issue 40,000 cards every month.  In the past, cards were sold by the marketing agents at petrol pumps but now they are being sold largely to customer at bank branches.
  8. 8. Google races to No 2 spot in smartphone mart  Google’s Android software platform rose to No 2 spot globally.  Nokia’s Symbian continued to lead the market with 37% share.  Android has 17% share.  Surpassed Research in Motion (RIM), Apple and Microsoft this year.  Android phones are made by companies including Motorola, HTC Corp. and Samsung Electronics
  9. 9. RBI doubles online money transfer limit via RTGS to Rs 2 lakh  Present limit is Rs 1 lakh.  New limit will come into effect from Nov 15 onwards.  The RTGS system facilitates high-value transfers of money from one bank to another on a real-time and gross basis.  On an average, the central bank handles around 60,000 RTGS and around 50,00,000 cheque clearing transactions per day.  For electronic transactions valued between Rs 1-2 lakh, the RBI has created a new value band in its 'near real-time' National Electronic Fund Transfer (NEFT) system to cater to retail bank customers.
  10. 10. Contd…  Fund transfers up to Rs 1 lakh through the NEFT mode, will continue to attract a service charge of Rs 5.  For fund transfers valued between above Rs 1 lakh and Rs 2 lakh, the RBI has revised the customer charges downward to Rs 15 from Rs 25 earlier.  The fee for fund transfers worth more than Rs 2 lakh remains unchanged at Rs 25.  The NEFT has been a highly successful service ever since it was launched in late 2005. More than 60 lakh transactions are estimated to take place every month through this route.
  11. 11. THANK YOU