Et news (20 25 sept)


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Et news (20 25 sept)

  1. 1. By: Nitin Kochhar<br />WEEKLY NEWS <br />(20 Sept – 25 Sept)<br />
  2. 2. Bharti forays into mobile phone business<br />Bharti’s group firm Beetel Teletech Limited launched eight hand sets in the price range of Rs. 1750-7000.<br />To begin with, Beetel would have an in-house design facility in India.<br />Manufacturing is being done outside India but with innovation done locally.<br />The entire range of Beetel phones has features like dual SIM, FM and cameras<br />
  3. 3. USE cracks Rs. 87,389 crore biz on debut<br />USE is promoted by all of India’s public sector banks, five leading private sector banks, three corporate institutions and the BSE.<br />Active participation by jobbers and banks got currency futures trading off to a flying start on the newest bourse.<br />On the first day, USE clocked volumes of Rs. 45,485 crore in four currency pairs, including rupee versus dollar, euro, yen and GBP respectively.<br />
  4. 4. Banks told to ensure MFIs don’t charge high rates<br />MFI – Micro Finance Institutes<br />Banks will have to put a mechanism to verify that MFIs, whom banks are financing, do not lend at rates more than 24% to final borrowers.<br />The finance ministry wrote a letter to banks that MFIs continue to charge a relative high rate of 27-30%, even as they receive funds in the range of 10-12% from banks.<br />
  5. 5. P&G to bring Wella brand to India<br />The Cincinnati –based P&G is set to bring in its biggest global brands into India – Wella Hair Colour– as it looks to strengthen its health and beauty business.<br />This is the first time P&G will enter the hair colour category – so far dominated by L’Oreal India’s brands L’Oreal Excellence Crème and Garnier.<br />The category is estimated at Rs. 1200 crore and estimated to grow at a healthy 25%.<br />
  6. 6. Contd….<br />The consumer products giant which makes Tide detergent, Pampers diapers, Gillette shavers, Olay skin cream and Pantene shampoo has a combined turnover of close to Rs. 3000 crore.<br />It operates through three subsidiaries – Procter & Gamble Health & Hygiene (PGHH), Procter & Gamble Home Products (PGHP) and Gillette India. <br />
  7. 7. Satyam set to delist from NYSE by Oct 15<br />Satyam Computer Services is set to delist from the NYSE after failing to file its financial statements for fiscal year 2009 before the deadline of Oct 15.<br />After its takeover by Tech Mahindra in early 2009, the scam-hit IT company had filed an application for delisting from NYSE Euronext, the regulated market of Euronext Amsterdam.<br />The company is now majority owned and managed by the Mahindra group and has been branded as Mahindra Satyam.<br />
  8. 8. Food inflation rises 4th week in row, hits 15.46%<br />Food inflation rose as widespread floods in north India pushed up prices of cereals and fruits & vegetables. <br />
  9. 9. THANK YOU<br />