Ratan Tata and Kalaari Capital collaborate to strengthen Indian start-up ecosystem

Tata coming on board as an advisor fits seamlessly with Kalaari’s commitment to excellence and venture investing. It also offers a further edge to their portfolio companies in their endeavor to achieve market leadership, high performance and business excellence. 

Ratan Tata has officially committed to a mentorship role with Kalaari Capital, one of India’s leading venture capital firms. This collaboration in an advisory role with the firm will see Mr. Tata lend his significant expertise to guide and mentor Kalaari portfolio founders.  Mr. Tata coming on board as an advisor fits seamlessly with Kalaari’s commitment to excellence and venture investing. It also offers a further edge to their portfolio companies in their endeavor to achieve market leadership, high performance and business excellence.

Since his operational exit from the Tata Group, Tata has made personal investment forays in fast emerging Indian ecommerce and Internet businesses. All these companies, Snapdeal, Bluestone and Urban Ladder, have emerged as market leaders from the Kalaari Capital portfolio. Mr. Tata's association with these companies is a testament to Kalaari's stellar track record of identifying and nurturing high growth start-ups, after having invested in 55 companies since 2006. This association is therefore a natural culmination of their synergies, which will add another dimension to the value they offer their portfolio companies.
Extending a warm welcome, Vani Kola, Managing Director, Kalaari Capital Advisors said, “Mr. Tata is an icon and role model to all entrepreneurs and we are privileged to have his commitment to help our portfolio companies. This collaboration is a validation of our commitment and focus to add significant value to them. We are pleased to join hands with Mr. Tata and believe that this collaboration will take us further towards creating leaders and great companies from India.”

Kalaari Capital has $350 million under management with a strong advisory team in Bengaluru investing in early-stage, technology-oriented start-ups in India. Kalaari is known for its trust and transparency in working with entrepreneurs and co-investors that has led to the success of many of its portfolio companies. This collaboration marks the latest milestone in their commitment to build a strong entrepreneurial ecosystem in India. 

Govt to issue GDP estimate for Dec quarter today

The new base year for GDP would be 2011-12 against the earlier 2004-05 

The government will issue the gross domestic product (GDP) data for the financial year's third quarter (Q3, October-December) on Monday.

The ministry of statistics and programme implementation will also issue the revised figures for the first and second quarter of 2014-15. The ministry will also released the advance estimates for the full year's growth, while the Budget for the next year will be tabled on February 28

Advance estimates are always a mixture of actual numbers and projections. These rely on actual numbers for the first half of a year, actual numbers of industrial production till November and projetions for the rest of the year.

This time, the numbers for the first two quarters would be on a new definition of GDP and the new base year of 2011-12 against the earlier 2004-05. 

Suzlon hit 5% upper circuit

The stock has hit a high of Rs17 and a low of Rs16

Shares of Suzlon hit 5% upper circuit at Rs17.

The stock has hit a high of Rs17 and a low of Rs16.

The company will announce Q3 results on Feb 13, 2015.

OnePlus Open sale on Amazon.in

Enthused by the fabulous response from customers so far and to return the love shown by them, OnePlus has decided to conduct the open sale where everyone is invited. Customers will not require any invite to purchase their favourite OnePlus One smartphone during the sale. 

There’s some good news for all those in India who couldn’t lay their hands on the latest OnePlus One smartphones! Amazon.in, India’s largest online store, has announced the first-ever open sale of OnePlus One phones in India on its marketplace starting 10 AM on February 10, 2015 to celebrate the successful completion of 10 weeks of OnePlus in India.

Enthused by the fabulous response from customers so far and to return the love shown by them, OnePlus has decided to conduct the open sale where everyone is invited. Customers will not require any invite to purchase their favourite OnePlus One smartphone during the sale.

What are you waiting for? Just log on to Amazon.in at 10 AM on February 10, 2015 and order your favourite phone. The sale would be for limited quantity which is expected to stock out quickly given the high demand for the phone

.

Till now, the sale of OnePlus One phones on Amazon.in was based on an invite-only model which has seen overwhelmingly positive response from customers. 

Reliance Infrastructure stock hit 5% lower circuit

The stock has hit a high of Rs448 and a low of Rs434.

Shares of Reliance Infrastructure hit 5% lower circuit at Rs435.

The stock has hit a high of Rs448 and a low of Rs434.

There are reports that there may be worries about the possibility of an audit of private power distributors by the new government.

Dr.Datsons Labs appoints Sameer Talim as Chief Executive Officer

The stock, which hit a high of Rs. 7.70 plunged to a low of Rs. 6.60.

Shares of Dr.Datsons Labs are now trading down 3% at Rs. 7. The company has informed BSE that Mr. Sameer Talim, Chief Executive officer of the Company, with effect from February 09, 2015.

The stock, which hit a high of Rs. 7.70 plunged to a low of Rs. 6.60. Total traded quantity on the counter stood at over 2.30 lk shares.

Meanwhile, the Sensex has shed 341 points at 28,377. 

Chambal Fertilisers to shut down its urea plant in Kota

The stock has hit a high of Rs. 63 and a low of Rs. 61.

Chambal Fertilisers & Chemicals Ltd has informed BSE that one of the Company's Urea Plants at Gadepan, District Kota, Rajasthan has been shut down from February 08, 2015. 

The shutdown of the plant is necessitated due to unfavorable policy of the Government of India for production beyond 100% capacity of the plant for the financial year 2014-15. 

The Company shall carry out routine maintenance activities during the shutdown period and the plant is expected to resume operations during last week of March or first week of April 2015.

The company shares were trading at Rs. 62.10, up 2.1 per cent at BSE. The stock has hit a high of Rs. 63 and a low of Rs. 61.

Total traded quantity on the counter stood at over 0.97 lk shares

Economic Buzz: Japan Current Account Surplus At Y187.2 Billion In December

Economic Buzz: Japan Current Account Surplus At Y187.2 Billion In December

Japan registered a current account surplus of 187.2 billion yen in December, the Ministry of Finance said on Monday, down from the 433.0 billion yen surplus in November.

The trade balance reflected a deficit of 395.6 billion yen following the 636.8 billion yen deficit in the previous month.

 Exports were up 19.3 percent on year to 7.100 trillion yen, accelerating from the 10.8 percent spike a month earlier. Imports added an annual 6.7 percent to 7.496 trillion yen after gaining 2.2 percent in November.

Ipca Laboratories stock up 2% on Q3 numbers

The stock has hit a high of Rs642 and a low of Rs591 

Shares of Ipca Laboratories was up 2% at Rs628 after company posted Q3 results.

 The stock has hit a high of Rs642 and a low of Rs591

 The Company has posted a net profit of Rs. 415.30 mn for the quarter ended December 31, 2014 as compared to Rs. 1391.20 mn for the quarter ended December 31, 2013. 

Shasun Pharma stock down 2%

The stock has hit a high of Rs255 and a low of Rs250. 

Shares of Shasun Pharma was down 2% at Rs253 after company said that company is seeking shareholders' approval for its proposed merger with Bangalore- based drug firm Strides Arcolab 

The stock has hit a high of Rs255 and a low of Rs250

Total traded quantity on the counter stood at over 0.15 lk shares.

Sensex slips 300 points; Auto, Bankex down

The Nifty, Junior, Midcap and Smallcap indices have recovered some of the losses, but still trades with a loss of over 0.5 per cent each at 18,9722, 12,644 and 5,350, respectively. 

The BSE Sensex and the NSE Nifty continues to trade with huge losses, on the back of poor corporate earnings and selling pressure in select all sectors ahead of GDP number today.

At 10:51 AM, the S&P BSE Sensex is trading at 28,398 down 320 points, while NSE Nifty is trading at 8,572 down 89 points.

So far, the BSE headline and Nifty-50 indices have registered a low of 28,337 and 8,547, respectively.

The Nifty, Junior, Midcap and Smallcap indices have recovered some of the losses, but still trades with a loss of over 0.5 per cent each at 18,9722, 12,644 and 5,350, respectively.

All sectors are trading in red zone, the Auto and Infra indices have slipped 1.5 per cent each at 8,368 and 3,125, respectively.

The Finance index has shed 1.4 per cent at 7,583. The Bank Nifty, Realty and Metal indices are the other losers - down over a per cent each.

The breadth is bearish in morning deals - out of 1,695 so far traded on the NSE 1,021 stocks are declining, while only 392 stocks are advancing.

In the Auto space, Apollo Tyres has slumped over 15 per cent to Rs. 181 after the company reported 45 per cent drop in Q3 net profit. Ashok Leyland has cracked over 3 per cent at Rs. 59.

Amtek Auto and MRF have plunged around 3 per cent each at Rs. 153 and Rs. 37,750, respectively.

Mahindra & Mahindra and Hero MotoCorp have dropped over 2 per cent each at Rs. 1,123 and Rs 2,716, respectively.

Eicher Motors, Tata Motors, Bosch, Amaraja Batteries, Exide Industries and Maruti Suzuki have also shed over a per cent each.

On the other hand, Motherson Sumi has soared almost 3 per cent at Rs. 440. Bajaj Auto has gained nearly a per cent at Rs. 2,240 and Bharat Forge has added 0.2 per cent at Rs. 1,059 

Maharashtra attracts FDI of $70bn in last 14 yrs: DIPP

New Delhi, which includes Delhi and part of Uttar Pradesh and Haryana received USD 45.77 billion foreign direct investment from April 2000 to November 2014

Maharashtra, Dadra & Nagar Haveli, Daman & Diu have attracted maximum foreign inflows at USD 70.41 billion from April 2000 to November 2014, about 30% of total foreign direct investment (FDI) inflows.

New Delhi, which includes Delhi and part of Uttar Pradesh and Haryana received USD 45.77 billion foreign direct investment during the period, which is 19% of total FDI inflows, according to the data provided by the Department of Industrial Policy & Promotion.

Tamil Nadu attracted the third highest FDI inflows worth USD 15.80 billion during the period, followed by Karnataka (USD 14.17 billion), Gujarat (USD 10.18 billion), Andhra Pradesh (USD 9.72 billion) and West Bengal (2.88 billion).

Sectors, which attracted maximum FDI include services, telecommunications, metallurgical industries, power, computer hardware and software, and construction activities.

The government had liberalised FDI policy in several important sectors like insurance, defence, construction and medical devices sector.

Jet Airways stock slips on Q3 results

The stock has hit a high of Rs473 and a low of Rs451.

Shares of Jet Airways was down 2% at Rs463.

The stock has hit a high of Rs473 and a low of Rs451.

The Company has posted a net profit of Rs. 631.10 mn for the quarter ended December 31, 2014 as compared to net loss Rs. (2678.90) million for the quarter ended December 31, 2013. 

Total Income has increased from Rs. 47033.30 mn for the quarter ended December 31, 2013 to Rs. 52342.10 million for the quarter ended December 31, 2014.

Indian Oil launches high productivity new polymer: Report

The stock has hit a high of Rs. 327.55 and a low of Rs. 320.50

According to the report, Indian Oil launched a high productivity polymer, Propel HDPE 080M60 for injection moulding applications .

Report said the company is further planning for various petrochemicals projects worth approximately ₹34,000 crore to be launched by 2021-22.

The polymer of a high productivity polyethylene grade is being launched for the first time, report added.

At 10:41 AM, the stock was down 1.4% at Rs. 323. The stock has hit a high of Rs. 327.55 and a low of Rs. 320.50.

Total traded quantity on the counter stood at over 0.23 lk shares.

Meanwhile, the Sensex has slumped 330 points to 28,388 

VA Tech Wabag board approves Bonus Issue

The stock was down 1% at Rs1492

VA Tech Wabag Ltd has announced that the Board of Directors of the Company at its meeting held on February 07, 2015, inter alia, has considered, approved and recommended for approval of the shareholders, issue of fully paid Bonus shares in the Ratio of 1:1 (one equity share for every one Equity Share of Rs. 2/- held in the Company) by capitalizing the Securities Premium Reserve Account of the Company.

The Board also proposed to alter the Capital Clause of the Memorandum of Association by re-classifying the existing Preference Share Capital of the Company into Equity Share Capital.

The stock was down 1% at Rs1492

.

The stock has hit a high of Rs1571 and a low of Rs1470.

Nifty at 3 week low

Auto, Consumer Durables, Power, banking, capital goods, FMCG, Oil and gas, healthcare metal, realty indices are losers.

At 10:10AM, the S&P BSE Sensex is trading at 28,373 down 344 points, while NSE Nifty is trading at 8,5555 down 105 points.

The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.

Auto, Consumer Durables, Power, banking, capital goods, FMCG, Oil and gas, healthcare metal, realty indices are losers.

Cairn, Crompton Greaves, ONGC, PNB are among the gainers, whereas GAIL, Tata Steel, Tata Power, HEROMOTOCO, M&M, ICICI Bank indices are losers.

Madras Rubber Factory and Onkar Kanwar led Apollo Tyres are in race to acquire the main tyre unit of BK Birla flagship Kesoram Industries, according to reports.Report said that two companies is raising the possibility of  bidding war for the factory which is located in Uttarkhand.

CCI has approved JSW Energy's proposed Rs 9,700 crore acquisition of two hydro-electric projects from Jaiprakash Power Ventures, according to reports.

Global cues are not that bad. One can hope that the market stages some recovery after the initial jitters. Oil & Gas and OMCs will again be in focus with crude prices steadily climbing. A host of companies announced their results over the weekend. L&T in particular will be in focus on account of its results. Investors could look at cherry-picking some counters in case of a crash.

US jobs report was better than expected and investors interpret that Fed will increase interest rates by mid-year. Greece's debt negotiations continue to cast a shadow in the Euro zone. Greece's prime minister, Alexis Tsipras, said he would not accept an extension to Greece's current bailout even as Euro zone finance ministers are waiting to hear on Feb. 11 how Greece wants to become financially independent. Greece must apply for a bailout extension by Feb. 16 at the latest to ensure that the euro zone keeps backing it financially, a report stated.

The Dow and S&P 500 fell 0.34% while Nasdaq lost 0.43%. Asian markets are mixed with Nikkei trading higher for now while Hong Kong's Hang Seng and China's Shanghai index are both down around half a percent.

Prime Minister Narendra Modi promised more funds to states with greater powers on their utilisation, even as he asked them to address issues delaying projects at the Niti Aayog meet on Sunday.

Axis Bank will seek shareholders' approval for raising up to Rs 15,000 crore. Even though the indices closed weak, the combined market capitalisation of top-five Sensex companies rose by Rs. 36,780.23 crore last week. The gainers among the top-10 companies include ITC, CIL and HDFC, while those that suffered losses were ONGC, RIL, HDFC Bank, SBI and HUL, says a report

Crompton Greaves stock up 2%

The stock has hit a high of Rs163 and a low of Rs156.

Shares of Crompton Greaves Ltd was up 2% at Rs161 on reports that Avantha Group is planning to sell  industrial division of Crompton Greaves and retain the consumer business, according to reports.

The stock has hit a high of Rs163 and a low of Rs156.

Report said that the company is in discussions with Nidec Corp and Minebea Co to sell the division.

Hindalco stock flat

The stock has hit a high of Rs. 148 and a low of Rs. 145.50. 

Hindalco Industries stock is up 0.17% after the company counter witnessed a huge block deal on the NSE.

Around 15.1 lakh shares were traded in a single block at Rs. 147 this morning on the NSE.

The stock has hit a high of Rs. 148 and a low of Rs. 145.50. Total traded quantity on the counter stood at over 0.33 lk shares.

Meanwhile, the Sensex is down 255 points at 28,463 

Tata Steel slips 3%

The stock has hit a high of Rs. 361.35 and a low of Rs. 355.10

Tata Steel started the day on a weak note, with a loss of 3 per cent at Rs. 358 after the company reported 68.8 per cent drop in Q3 net profit on year-on-year basis.

The company recorded consolidated net profit of Rs. 157 crore for Q3FY15, as against Rs. 503 crore for Q3FY14. Total income was down 8.2 per cent to Rs. 33,752 crore from Rs. 36,754 crore

The stock so far has tumbled 3.8 per cent to touch a low at Rs. 355. Now, the stock is down 2.5% at Rs. 360.35.

The BSE counter has registered trades of around 187,000 shares, when compared with two-week daily average volume of 844,000 shares.

Meanwhile, the Sensex has slumped 284 points at 28,434 

HSBC Indian list includes 1,195 clients; bank aids clients evade tax

The secret documents showed the HSBC Bank’s dealings with clients engaged in illegal behavior, especially in hiding hundreds of millions of dollars from tax authorities 

An investigation by The Indian Express and the Washington-based International Consortium of Investigative Journalists (ICIJ) and the Paris-based Le Monde newspaper has leaked records from HSBC, a major international bank based in London.

The investigation revealed new details about the bank’s role as a conduit for the bribes. A team of journalists from 45 countries have disclosed secret bank accounts maintained by HSBC for criminals, traffickers, tax evaders, politicians and celebrities. The leaked files, based on the inner workings of HSBC’s Swiss private banking arm, relate to accounts holding more than $100 billion.

 
ICIJ has obtained secret files of more than 100,000 individuals and legal entities from over 200 countries and cover accounts up to the year 2007.

The HSBC Indian list included 1,668 client having an aggregate amount $4.1billion in the year 2007. The investigation revealed that the number of Indian clients in the bank has increased to 1,195.
The documents showed the bank’s dealings with clients engaged in illegal behavior, especially in hiding hundreds of millions of dollars from tax authorities.

 They also show private records of popular sports players, rock stars, Hollywood actors, royalty, politicians, corporate executives and old-wealth families. The files also document huge sums of money controlled by dealers in diamonds.

HSBC on Sunday said that the bank is accountable for past compliance and control failures, according to an international media report.

HSBC further said that its Swiss subsidiary had not been fully integrated into HSBC after its acquisition in 1999, allowing "significantly lower" standards of compliance and due diligence to persist, the report added.

In 2012, a US Senate investigation had found that the bank had lax controls that allowed Latin American drug cartels to launder hundreds of millions of ill-gotten dollars through its US operation.
In 2007, an HSBC computer security specialist named Hervé Falciani stole the secret files and gave it to the French government. The data offered a rare glimpse into the highly secretive world of Swiss banking.

The data contains names, nationalities, account information, deposit amounts. It also provides detailed notes revealing the private dealings between HSBC and its clients.
The details of secret files provided by Falciani -- which came to be known as the Falciani List or Lagarde List -- to governments around the world.