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et news (1 to 5 NOV)






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et news (1 to 5 NOV) et news (1 to 5 NOV) Presentation Transcript

  • ET NEWS(1st Nov – 5th Nov)
    By: Nitin Kochhar
    MBA 2C
  • 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
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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
  • 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. 
  • 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.