Barack Obama and Angela Merkel stress on de-escalating Ukraine situation

(dna Research & Archives)
US President Barack Obama and German Chancellor Angela Merkel agreed on the importance of de-escalating the situation in Ukraine, the White House has said.

In a telephone talk between the two leaders, they discussed potential solution to the crisis in Ukraine, including deploying international observers and human rights monitors, and initiating direct talks between Russia and Ukraine, Xinhua cited from a statement issued by the White House Tuesday.

Obama and Merkel also discussed the need to continue to support the Ukrainian government as it works to stabilize its economy and makes preparations for elections in May, according to the statement.

Welspun sees domestic pipe demand rising after elections

Akhil Jindal
Welspun Corp, the B K Goenka group flagship, which had been suffering huge losses post its diversification in infrastructure and steel business in 2010-11, has demerged these arms into a separate company.

Welspun Corp, the B K Goenka group flagship, which had been suffering huge losses post its diversification in infrastructure and steel business in 2010-11, has demerged these arms into a separate company. Akhil Jindal, director, group finance and strategy, Welspun Corp in an interview with Dhwani Pandya spoke how demerger would help the company to focus on core business. Excerpts from the interview:

What are your plans for the future?

Post demerger, pipes and plates would be one entity and steel, oil and gas and infrastructure would be another. In case of oil & gas we are at the exploration stage, we still have not announced any commercial discovery. We are doing this in collaboration with Adani, where we hold 35% equity and Adani holds 65%.

Where are these oil & gas assets?

These are small assets in different locations, five or six of them, including one in Egypt. We will come back to you in case of any significant commercial discovery. Initial studies related to these block were done in Nelp 6 and 7, now we are in various stages of exploration.

After exiting Leighton what plan do you have for infrastructure business?

We have many other businesses, we have been operating road assets, water assets, eight construction projects, both in water and transportation. There are some small EPC work. We need to now re-question the new business growth possibilities.

Since Leighton's under balance sheet of Welspun Enterprises, can it be utilised for other businesses apart from infra?

I have no clarity at this juncture. Even without this deal all our needs for fund were being fully met. Third business in Welspun Enterprise is Maxsteel which has a gas based direct reduced iron (DRI) plant. Post fall in KG D6 ouput plant faced severe gas crunch leading to huge production drop. We have started getting good amount of gas now, from GAIL. At peak production we require 0.8 mscmd, we are getting around 0.4-0.5 from allocated sources and we are buying 0.1 mscmd from market. We are currently operating at 40-50% capacity. We are breaking even with the supply of 0.4 mscmd. We are also developing a technology called PGP at this plant which will basically produce gas from coal, so we will meet balance 40% of our requirement through this gas producing plant. We have virtually reached financial closure for this plant and we would be able to produce gas at $7 per mmbtu. We expect this plant to start operating by next calendar year.

How is the order pipeline looking?

Our current order-book of pipe is 800,000 tonne globally, or Rs 5,500 crore. In the last nine months on an average we have got a margin $150 per tonne, or Rs 8,000-Rs 9,000 per tonne; and our EBIDTA is in 11% – 12% range. On an average, we bid for 2-3 million tonne of pipes and we have a conversion rate of 25-30%. While there is substantial amount of enquiries from the international market, domestic demand still remains subdued. Post elections there could be a pick-up in projects, which may improve demand.

What's lies ahead for Welspun Corp after demerger?

Demerger will help us to focus on our core pipeline business, where we have significant international presence and we would like to further strengthen it. We are looking at making more inroads into the European market. If that market reaches substantial level, we may even consider to set up a plant. Setting up the plant makes more sense than acquiring a plant in Europe, because majority of European steel pipe plants are old and do not have latest plant and machinery.

You current debt level is too high..

Our current net debt is around Rs 2,200 crore and our interest payment annually is around Rs 150 crore. In next six months around Rs 700-Rs 800 crore of debt will be retiring, around Rs 300 crore in this financial year and remaining in next.

Reliance Communications aims to double enterprise revenues this fiscal

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Mumbai: 35-ft long dead whale washes ashore Juhu beach

Carcass of the Bryde's Whale that washed ashore Juhu beach on Thursday night.

(Kunal Chonkar)

The whale measured around 35 - 40 feet, approximately weighing around three to four tonnes.

The unexplained beaching of dead dolphins and whales continues on the western coastline. This time around, a huge dead whale was spotted on Juhu beach on Thursday night.

The dead mammal, identified as a Bryde's Whale, was noticed by joggers at around 9 pm on the suburban beach. According to forest officials, the whale measured around 35 - 40 feet, approximately weighing around three to four tonnes.

"From initial examination, the whale seems to have died a day or two back. It bloated and was then carried in by the tide to the beach," said Assistant Conservator of Forest (Mangroves Protection Cell) Makrand Ghodke.

He added that internal decomposition of the organs had already started, and the outer skin of the whale, around the tail and stomach had started to peel off.

"We will deflate the carcass on the beach itself, otherwise it could explode," Ghodke added.

This comes on the heels of, Tamil Nadu, on 12 January this year, leading to the death of around 45 whales.

Autopsy at the spot on Juhu beach

The carcass has no evident signs of injuries. The team extracted tissue samples for forensic analysis at a lab in Kalina.

There are four veterinarians who will perform the autopsy at the spot on Juhu beach, and then move the carcass to the forest department’s conservatory in Airoli.

Officials plan to preserve the skeletal structure of this whale at the information centre in Airoli of Navi Mumbai.

However, although the whale is considerably young and hasn’t reached full maturity as per its size and weight, it is still too heavy to be moved by human effort. Two hydraulic cranes will be pressed into action to move the carcass to Airoli, on Friday morning.

Ghodke added that this was the second biggest whale to have beached on the western coastline following the washing ashore of the Giant Blue Whale at Alibaugh, last year.

Upon checking the exact species of the whale, veterinarian Himanshu Damle, who is assisting the Forest department with the necropsy of the carcass, confirmed it to be of the Bryde's Whale.

"The carcass belongs to the Bryde's Whale species, which are very similar to other whale species like Blue, Fin and Sei," Damle said.

Hundreds flock to take photos

As news of the dead whale beaching at Juhu spread, hundreds of citizens swarmed to the beach trying to take photographs. The Juhu Police were pressed into crowd management with barricading ropes and extra patrolling to prevent people from going near the carcass. Extra personnel from Coastal Police unit were also roped in.

Whale to be moved today

The Brihanmumbai Municipal Corporation (BMC) will be providing two cranes to move the behemoth mammal on Friday morning.

Forest officials have called in a trailer truck, upon which the dead whale will be loaded to be taken to Airoli.

Part of the beach where the whale carcass lies has also been cordoned off. A team of around 50, including Mumbai Police, BMC and Forest officers, will be manning the operation.

3G SIMs to grow to 400 million by 2020 from 70 million: Ericsson

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Asian markets wary before Bank of Japan policy meeting; oil extends rally

Asian shares crept cautiously higher on Friday as oil cobbled together another session of gains (Getty Images)
Asian shares crept cautiously higher on Friday as oil cobbled together another session of gains and markets wagered US interest rates would not be rising much this year, if at all.

Speculation is also rife the Bank of Japan (BOJ) will have to add yet more stimulus, though many doubt it will come at Friday's first policy meeting of the year.

Sources said the decision could be a close one but that policymakers were wary of using their diminishing options to counter what they see as factors beyond the BOJ's control.

"All eyes will be on the BOJ at the moment. Policymakers now have the difficult decision of steering into the wind and taking decisive action amid global instability, or sticking to the program and risking further defamation in the court of public opinion," said Martin King, co-managing director at Tyton Capital Advisors.

Japanese investors seemed braced for disappointment and the Nikkei lost early gains to trade 0.3% lower.

MSCI's broadest index of Asia-Pacific shares outside Japan managed to add 0.3%, aided by a tentative bounce in China. The Shanghai benchmark rose 1.6% in early action, but remains sharply lower for the week.

Oil prices extended their rare rally after Russian energy minister Alexander Novak and a senior Gulf OPEC delegate suggested that major oil producers may pare production.

It remained unclear whether a rumoured deal to cut output by up to 5% would be struck anytime soon.

US crude was up a further 15 cents at $33.37 per barrel, while Brent futures firmed 11 cents to $34.00.

The semblance of stability in oil combined with some solid company results to lift Wall Street. The Dow gained 0.79%, while the S&P 500 added 0.55% and the Nasdaq Composite 0.86%.

Facebook surged 15.5% in its biggest one-day leap since 2013 after smashing expectations, while Alphabet climbed 4.28%.

Microsoft rose 4.5% in late trading after beating forecasts, but Amazon slumped 12% as profits missed analysts' estimates by a wide margin.

Economic news disappointed as US durable goods dived 5.1%, the biggest decline in 16 months and just the latest indicator to undershoot forecasts.

The saving grace for stocks was that debt markets reacted by further lowering the expected path of hikes from the Federal Reserve. Fed fund futures imply a rate of 59 basis points by year end, compared to 90 basis points a month ago.

"We saw weakness in more US durable goods, but one can track that directly to softness in manufacturing and oil, which is distinct from the strength across the service sector," said David Cannington, a senior economist at ANZ.

"Nonetheless, it strengthens the hand of those pointing to the Fed doing less, and questions the case of the dollar bulls."

The dollar was steady against a basket of currencies at 98.606. The euro held at $1.0933 and well away from the $1.0786 low hit at the start of the week.

The dollar was little changed on the yen at around 118.62 as investors counted down to the BOJ announcement.

Tech Mahindra Q4 net drops 3.6% on wage hikes

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Cheers! Italy toasts booming wine trade

Verona - As he swirls a glass of yellowy-green wine made from the trendy pecorino grape, Fabio Centini purrs with enthusiasm.

Credit: REUTERS

A sommelier pours a glass of Marchesi Frescobaldi's Leonia sparkling wine at the 50th VinItaly international wine and spirits exhibition in Verona, northern Italy, on April 12, 2016. Picture: Stefano Rellandini

“I hadn't even heard of this grape 15 years ago,” the Italian-born chef-restaurateur from Calgary, Canada, tells AFP between slurps at a tasting of top pecorinos from the Offida area of the Marche region.

“But it is exactly what my customers want. People are looking for new varietals, new experiences.”

Centini is one of 55 000 industry professionals from 141 countries gathered in Verona this week for VinItaly, a giant showcase for the best the country has to offer the world's wine-lovers.

The 50th edition is the biggest yet and crammed aisles speak volumes about the buoyant state of a sector that employs 1.25 million people and produces more wine than any other country.

Led by a boom in sales of prosecco, which has surpassed Champagne to become the world's favourite bubbly, exports of all forms of Italian wine hit a record 5.4 billion euros ($6.2 billion) last year, up more than five percent on 2014.

The trend looks like continuing. A Mediobanca survey found 92 percent of producers anticipating higher sales in 2016, underpinned by investment which grew 18 percent overall last year and by 37 percent in the surging sparkling sector.

It is all a far cry from the days when Italian wine was synonymous internationally with straw-wrapped bottles of chianti of variable quality and sometimes questionable provenance.

“They have taken out a bit of the monkey business,” says Centini, a VinItaly regular since 1990. “There was a time when you didn't always know what was in the bottle.”

Although recent growth has been led by sparkling wine and strong sales of easy-drinking pinot grigio and other competitively priced varietals, there has also been an awakening of interest in Italy's indigenous red grapes.

These include aglianico, negroamaro, nero d'avola and primitivo (which shares its DNA with zinfandel) from the south and Sicily, and montepulciano from the central region of Abruzzo, where producers have been quietly picking up international awards in recent years.

The sheer variety can be baffling for consumers and a shortage of strong producer brands is seen as a weakness on global markets.

But Italian wine expert Andrea Grignaffini says diversity is becoming a strength.

“Often the same grape gets made in a different style in different parts of the country, even in the same zone. It is complicated even for us Italians to understand.

“But that's Italy. And the industry is moving so fast now, fashions change. When the moment of one wine passes, it is good to have others to take their place.”

Change is also afoot at the top end of Italian wines with producers in Tuscany and Piedmont battling to catch up with the Asia-driven gains of France's Bordeaux and Burgundy.

International critics have recognised a major leap forward in terms of the quality and consistency of the best brunellos, chianti classicos, barolos and barbarescos since the 1980s.

But Stephanie Cuadra, of leading Tuscan estate Querciabella, said Italy's fine wine champions also had to be able to transmit “a sense of origin, a sense of place,” in the way that Burgundy, where tiny parcels of land are classified on the basis of minute variations of soil and micro-climates, has done very successfully.

“In terms of fine wine, we are an obvious alternative to France and as palates mature in emerging markets they become more curious, it is a natural evolution,” Cuadra said.

Moves towards officially recognising sub-zones in Italy's leading wine areas have got bogged down by local battles over re-classifying areas in a way that will inevitably produce winners and losers.

While insisting that Italy's wines are better than their French rivals, even Prime Minister Matteo Renzi acknowledges that the French have done a better job of selling their wines on global markets.

French wine retails at prices that are 120 percent higher on average than Italy's output and total Gallic export earnings are some 60 percent higher.

“In the last 20 years, Italy has let too many opportunities slip by in this sector,” Renzi said during a visit to VinItaly on Monday.

The flipside is that there is still plenty of room for growth, particularly in Asia, which accounted for only 3.4 percent of Italian exports last year. Italian producers are noticeably underperforming in China, which increased imports by 60 percent overall in 2015 but by only 15 percent from Italy.

That was one reason why Renzi's guest at VinItaly was Jack Ma. The Alibaba boss told his audience that the Internet could provide a digital bridge linking Italy's 300 000 producers with what is potentially the biggest wine market in the world.

“China will be home to half a billion upper-to-middle-class consumers in the next 10 years,” Ma said. “You must reach out to them where they are.”

AFP

Microsoft targets 25 million new Indian users by 2015

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Cognizant's revenues rise 20% in January-March quarter

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Data, voice boost Idea's Q4 net as profit zooms 91%

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Acer India eyes Rs 500 crore revenue from government biz this quarter

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Reliance Communications to refocus on CDMA, hikes investment to Rs 2,000 cr

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Dark reimagining of a much-loved classic

To many, it must have seemed a near sacrilegious act for Disney to make a new, liveaction/ CGI version of The Jungle Book.

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To many, it must have seemed a near sacrilegious act for Disney to make a new, liveaction/ CGI version of The Jungle Book. After all, the 1967 film is one of the best-loved features in the Disney canon. The various live action films and spin-offs since then have generally received a pretty lukewarm response. As it turns out though, the latest attempt to bring Rudyard Kipling''s Mowgli to the screen is a triumph - a painstakingly crafted digital 3D movie whose astonishing visual effects are complemented by very sure-footed storytelling and tremendous voice-work.

Early on, when we see Mowgli (Neel Sethi) prancing through the forest with the black panther Bagheera (voiced by Ben Kingsley) or playing with wolf pups at the Peace Rock, it looks as if the film will indulge in the cutesy, sentimental anthropomorphism that blights so many animated movies. Thankfully, as soon as the vengeful, scarred tiger Shere Khan (voiced by Idris Elba) arrives, the mood changes. The tiger has a bitter grudge against the boy and wants him dead.

The portrayal of the animals is as lifelike as in a natural history documentary - Twe can see every ripple of their muscles.

This is a far darker film than the 1967 cartoon. There's a hint of jungle-gothic about several of the scenes. Mowgli's journey, against his will, to the ruined temple presided over by the obese orangutan King Louis (voiced in purring mobster-like tones by Christopher Walken) could be something out of a horror movie. So could the scene when the little boy is mesmerised by the python Kaa (Scarlett Johansson) which wraps its coils around him.

There's nothing cosy either about the elemental sequences - the landslides, storms, buffalo stampedes - or the fire, “red flower”, in the forest.

Newcomer Sethi gives a remarkable performance in a role that required him, as just about the film's only live-action character, to act in front of a blue screen. (His animals friends were added in afterwards.) He plays Mowgli with a fieriness and gumption which stops the character ever seeming too much like an orphan waif on leave from a Victorian melodrama.

Strangely, the least effective scenes here are those which invoke the memory of the 1967 film. We hears a few strains from “The Bare Necessities” and “I Wanna Be Like You” but the songs seem out of place. There's plenty of comedy here, not least when Baloo the bear (Bill Murray) is in pursuit of honey, but there's also a constant sense of menace.

This wasn''t an easy movie to make. Each individual shot reportedly took weeks to animate.

Much of the work was done by a small army of technicians at the effects company MPC in London and at Weta in New Zealand, although the director Jon Favreau was based in LA for most of the shoot. They've achieved something both groundbreaking and magical.

The Independent

I can play anybody now: India squash player Joshna Chinappa

Joshna Chinappa (dna Research & Archives)
India squash player Joshna Chinappa– who recently lifted her maiden WSA World Tour title with Winnipeg Open trophy beating Heba El Torky from Egypt – tells Wriddhaayan Bhattacharyya about her journey in Canada
You have won on foreign soil before.

You have won on foreign soil before. How different was Winnipeg in terms of competition?

There were players ranked higher than me in the tournament. And I have never played in Canada before, the conditions were very tough. It was minus 22 degrees. Though the court has artificial heating but it is a cold country and I had never experienced that. I made sure I kept warm at home and don't go out much. I had to bundle up as much as I could and train outside.

The ice storm even killed people..

It was dangerous. I missed both my flights because of the storm and had to wait at the airport for over 10 hours. Then I waited for five hours for the next one, even that did not take off and finally I managed to get there late.

Who were the best players there?

There was intense competition as the girls had been winning a lot of matches since past few weeks. They were in the groove. Nicolette Fernandes (World No.19), Joey Chan (World No.23) were some of the best ones around.

How does it feel to lift a World squash title considering the sport is still not that promoted in India?

The sport got a lot more popular in the last few years if not to the extent of tennis or cricket. As far as I am concerned, I go for these tournaments to do well and win. The recognition is nice if I get it but even if that doesn't happen, I am fine with that. But people have been supportive, some Press people called me after the victory and it felt good.

How long did you train for this tournament?

I trained the whole of December till the middle of January, through Christmas and New Year when players usually take a break. I had good momentum, felt fit and wanted to build on that.

Was the training any different from what you normally do?

It was a lot on the field, lot of sprint and shuttle running. Lot of groundwork. I concentrated on variations of sprint. I spent hours in the gym too. I followed my trainer Rajamani and worked out consistently which made the difference in Canada.

Dipika won the same tournament last year. Do the opponents across the world take the Indian players as threat?

They (including the top 10 players) don't take us lightly at all because they know if we are at our peak, what can happen. Dipika created that platform last year.

You literally won the final in dying minutes? What gave you that adrenaline rush?

Yeah I was 10-7 down. I honestly don't know what happened, it was such a blur that moment. I hung in there, she made a couple of errors which helped me get back to the game. When I levelled it 10-10, I thought of not delaying it any further and was more aggressive to win the remaining two points.

Your thoughts on Heba El Torky..the youngster gave you a tough time..

She did but you know the funny part? I played her last week prior to the final and I won 3-0 pretty comfortably. Probably when I went into the final, I put a little bit of pressure on myself to play well. And she came into the game with a lot of confidence as she had defeated three top seeds in the tournament which stepped her game up.

Didn't that 3-0 win make you overconfident?

Not really because before that win, I lost to her a couple of times in the last two years. I knew what she is capable of. I have always had close games with her.

Tell us about the Egyptians, what makes them the champion players they are?

I have been based in Egypt before for training. They have 30-40 squash clubs in Cairo alone and each club has about 100 kids playing. If you have that many kids playing each other in local tournaments or league matches, you are going to get better eventually. They also have a lot of idols to look upto like Amr Shabana and Omneya Abdel Kawy. That encourages the juniors to come up and aspire to be like them. They are also very fearless. When they get on court, they don't care who they are playing, be it a top seed or any other player. They are also very skilful with shots.

You'd once said that you don't relish playing against Egyptians..

I'd said that long time back but now I change my opinion (laughs). More than anything, I am pretty fit today and can hang on with anybody on court. I am a better player than before. At present, I can play anybody.

Broadband tariffs to rise as TRAI proposes higher revenue share

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Startup to make lab-grown meat from celebrity tissue; Twitter reacts with trending hashtag #EatCelebrityMeat

Jennifer Lawrence, James Franco, Kanye West and Ellen DeGeneres
No, not dining with them, but having them for dinner!

No, not dining with them, but having them for dinner! A company claims to offer lab-grown salami from celebrity tissues.
PS BiteLabs claims to be already in talks with some Holly celebrities while James Franco and Jennifer Lawrence are on the wishlist.

Warning: Try #EatCelebrityMeat on Twitter, but not with a plate of food in front of you. The micro-blogging site is abuzz with tweets with the hashtag since an American-based start-up announced it plans to make lab-grown meat from celebrity tissue. And contrary to what many tweeples think, it’s not a joke. We got in touch with them, and, they say it’s all true. “BiteLabs is serious,” said Kevin from the team.

The lab wants to prompt widespread discussion about bioethics and lab-grown meats, and feel that celebrity meat would facilitate that discussion. Kevin explained, “For now, we only intend on using celebrity meat.

Each salami will have roughly 30 per cent celebrity meat and 40 per cent lab-grown animal meats. The rest will consist of fats and spices. This break-down comes from consultation with expert food designers and chefs.”

While BiteLabs claimed to be already in talks with some celebrities, their website features James Franco, Jennifer Lawrence, Kanye West and Ellen DeGeneres in a hypothetical ‘what-if’ wishlist. “But making celebrity meat a reality will all depend on our ability to generate public enthusiasm,” said Kevin. Oh yeah, they also asked us if we could direct any interested celebrities from India to them. Anybody for turning into a salami?

Any meat in the matter for us?

After Hrs asked Bollywood’s vegetarianism crusaders, and city’s food scene innovators what they think of lab grown meats, whether celebrity meat or not and the responses were varied.

Human samples? Not yet!

Nick Goklani, mock meat manufacturer

As a mock meat manufacturer here in India, we are still working towards familiarising vegetarians on soya-based products that are only a copy of taste and texture of meats, and completely vegetarian. And here we are talking of using human tissue samples!

Some actors deserve to be processed meat

Rahul Akerkar, restauranteur

If somebody is culturing a little bit of Brad Pitt in a lab, why it has to make an interesting sausage? People have been culturing tissue for stem cell research, but to make food products is absurd. Should certain actors be made into processed meat? I’d say, absolutely (laughs).

This news of laboratory grown celebrity meat sounds like it could be a joke. But the idea of genuine lab-grown meat is a step toward closing down slaughterhouses.

—Sonu Sood

TDSAT clears 3G ICR road-block; quashes penalties on Bharti Airtel, Vodafone

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Hyundai to raise Creta production to 13,000 per month to cut waiting period

(Company website)
The company has received over one lakh bookings in eight months since its launch.

Hyundai Motor India is increasing production of its SUV Creta by 30% to 13,000 units a month to reduce the waiting period as bookings of the vehicle cross one lakh milestone within eight months of its launch in the country.

"To reduce the waiting period, we are increasing Creta production by 30% to a total of 13,000 units of which 10,000 units will be allocated for the domestic market," Hyundai Motor India Ltd (HMIL) Managing Director & CEO YK Koo said in a statement.

HMIL had launched Creta in India in July last year and since then has received five lakh inquiries for the SUV. The company has delivered 56,000 units of the model till date.

ALSO READ Hyundai follows Tata Motors, Maruti; raises prices across models

Creta is available in three engine options of 1.6-litre and 1.4-litre in diesel, and 1.6-litre in petrol.

"We thank our customers for the tremendous response with the record fastest one lakh bookings in eight months. Like in the domestic market, Creta has generated great response in global markets with more than 28,000 orders," Koo said.

ALSO READ Can’t compete with Maruti on prices: Volkswagen India's Michael Mayer

With Creta, HMIL has strengthened its position in the SUV segment in India and has demonstrated an excellence of 'Made in India' products as per global standards, the company said.

Besides domestic market, the SUV has received a good response in global markets such as Latin America, the Middle East and Africa, the company said.

"Hyundai will continue to maintain its leadership position in the export market with the strong sales of Creta," it added.

Once elections are over, leaders are welcome to fight but now it is time to join hands: Rahul Gandhi in Kerala

Rahul Gandhi in Kerala.

Gandhi said, "Senior leaders in the state are exceptionally talented. What one does not have, others have. They together are much more powerful than alone. They have their strength and weaknesses. They have to stay together".

Rahul Gandhi on Wednesday exhorted Congress leaders in Kerala to shed their differences and fight the coming assembly polls unitedly even as party leaders in the state asked the party Vice President not to have any truck with the CPI(M) in West Bengal.

The demand to keep CPI(M) at bay was made at the KPCC Executive meeting, attended by Gandhi and all senior leaders with speakers terming the Left party as "undependable" and accusing it of pursuing politics of violence. However, Gandhi in his speech did not touch on the subject but sent a clear signal to party workers and leaders to end infighting and bickering in the state unit.

CPI-M leaders in West Bengal have been pushing for a tie-up with Congress to oust the Mamata Banerjee-led TMC while the Pradesh Congress leaders are divided over the issue. Gandhi asked the Congress leaders in Kerala to fight the coming assembly polls shedding their differences and said it was "not the time to fight" amongst themselves. Expressing confidence that the UDF would retain power in the state, which is also going to polls along with West Bengal, Gandhi said there was only one thing -- "CPI(M) cannot defeat Congress, Congress can defeat Congress party".

Gandhi said, "Senior leaders in the state are exceptionally talented. What one does not have, others have. They together are much more powerful than alone. They have their strength and weaknesses. They have to stay together. "Once elections are over, they are more than welcome to fight. But now, it is not the time to fight. Now, it is the time to be together," he said. The Congress leader said, "For one or two months, hold hands and join together" and let Congress rule return to the state in the coming assembly polls.

KPCC President V M Sudheeran and Vice-President M M Hassan in their speeches attacked CPI(M), which they charged follows a policy if politics of violence. Sudheeran also reminded Congress leaders about the "insincerity" of CPI-M in Bihar polls, where they formed a third front to fight the Grand alliance and divided the 'secular' votes. "That actually enabled BJP to win some of the seats," he said.

Hassan requested Gandhi not to have any tie up with CPI-M and said "CPI-M is a undependable party". "Their fight against Communalism is not sincere" he said alleging that "CPI-M is a party of opportunists." Those who attended the meeting included former Defence Minister and CWC Member A K Antony, Chief Minister Oommen Chandy, PCC President V M Sudheeran and AICC General Secretary in-charge of Kerala Mukul Wasnik.

Accenture March quarter performance benefits Infosys, TCS

Accenture (Reuters)
Infosys and TCS shares surged up by 2% on Monday.

Shares of Infosys and Tata Consultancy Services surged up by 2% in early trade on Monday. The gain was a clear result of strong earnings by Ireland-based IT software company Accenture, which raised hopes for good March quarter performance.

After the results, Infosys touched a 52-week high of Rs 1,234.65.

Accenture's second quarter revenue increased by 6% year-on-year to $7.9 billion in dollar terms and 12% in local currency (constant currency - CC), which was far better than its given guidance of 6-9% CC growth.

For the quarter ending May 2016 (Q3FY16), it expects revenue at $8.1-8.35 billion, implying CC growth of 6.7-10% on annual basis. Operating profit margin grew by 10 basis points to 13.7% year-on-year and profit (net income) was at $1.3 billion for the quarter.

Australian native grass could be key to super-thin condoms, claims researchers

Image Credit: University of Queensland
A native Australian grass could hold the key to creating next-generation condoms, according to a team of researchers.

Fibers from the Australian native spinifex grass are being used to improve latex that could be used to make condoms as thin as a human hair without any loss in strength. Working in partnership with Aboriginal traditional owners of the Camooweal region in north-west Queensland, the Indjalandji-Dhidhanu People, researchers from The University of Queensland have developed a method of extracting nanocellulose, which can be used as an additive in latex production, from the grass.

Darren Martin said that the great thing about nanocellulose is that it's a flexible nano-additive, so the scientists can make a stronger and thinner membrane that is supple and flexible, which is the Holy Grail for natural rubber. "We tested our latex formulation on a commercial dipping line in the United States and conducted a burst test that inflates condoms and measures the volume and pressure, and on average got a performance increase of 20% in pressure and 40% in volume compared to the commercial latex control sample," he said.

Martin noted that with a little more refinement, the researchers think they can engineer a latex condom that's about 30% thinner, and will still pass all standards, and with more process optimisation work we will be able to make devices even thinner than this.

Tata Group expects FY16 defence revenue to grow 7.5% to Rs 2,650 crore

Defence sector (Getty Images)
"For fiscal 2015-16, Tata Group's estimated revenue from defence and aerospace is Rs 2,650 crore, which is an increase of 7.5% over the last year."
Diversified Tata Group on Wednesday said it expects to close fiscal 2016 with a 7.5% growth in revenue from the defence and aerospace sector at Rs 2,650 crore and with the government focusing on localising the sourcing, it affirmed the commitment to invest in the space.

"For fiscal 2015-16, Tata Group's estimated revenue from defence and aerospace is Rs 2,650 crore, which is an increase of 7.5% over the last year," Tata Sons member of group executive Mukund Rajan told reporters here.

In the remarks that come a fortnight ahead of the biennial land, naval and internal homeland security systems exhibition, the Defence Expo, Rajan added over the last five years, the group's revenue from the space have seen a compounded annual growth rate of 18%.

"We are committed to making the appropriate investments to enhance India's defence capabilities in the long run," Rajan said at the specially arranged press meet where Tata group companies showcased the work they do in the sunrise sector.

He said the group's association with defence sector started in 1958 and a slew of companies including Tata Advanced Systems, Tata Advanced Materials, Tata Power with its strategic engineering division (SED), Tata Technologies, Tata Consultancy Services, Tata Steel, Tata Elxsi and Titan's precision engineering division are engaged in the sector.

Rajan was, however, tight-lipped about giving future projections for the business, but underlined the need for the government to "recognise the capability" of a large group like the Tatas and give them a fair chance to compete.

"We will not be able to give you a precise sense of the order book that we are looking at. Last year, we had mentioned a number of Rs 10,000 crore. We see similar kind of a number coming up, some are in the imminent future. A lot of the things will depend at the pace at which the contracts get announced, bid for and awarded," he said.

"I think the government has understood the security environment and the challenges we face," he said.

There has been a greater thrust on local sourcing of defence systems, which helps economy through the trickle-down effect and also strategically through the low reliance on imported solutions. With the greater focus on electronics in warfare, the need to localise has only grown.

The government's plan involves increasing the reliance on the private sector for co-development and production of the systems and a slew of corporates, including both the Ambani brothers, the Mahindra Group, Larsen and Toubro and Bharat Forge, have increased their play in this sector.

With the government opening up the sector to greater FDI, many corporates have also tied up with global majors with an eye on the domestic market.

Tata Power SED's Chief Executive Rahul Chaudhry said his unit is targeting to grow revenues by 50% every year over the next decade, and announced an investment of Rs 700 crore, over Rs 500 crore already invested, for a manufacturing plant at Karnataka's Vemagal.

He added following the Pathankot attack, there is a renewed discussion with the Indian Air Force to provide perimeter security solutions to the bases.

Tata Motors' vice-president for defence and government business, Vernon Noronha, said the future for the company is in the combat vehicles space.

On its wheeled amphibian platform Kestrel, he said it is under testing with DRDO and will be demonstrated at Defence Expo.

Tata Advanced Systems' Managing Director and Chief Executive Sukaran Singh said his company's orderbook stands at Rs 4,500 crore with a bulk of it being export orders in aerospace manufacturing.

The domestic orders will flow once the government starts its ordering, he said.

Rajan said small businesses have also benefited from its endeavours, pointing out that SED works with 750 vendors and Tata Advances Systems works with 65 small businesses.

On the employment generation front, Tata Motors said it has 4,500 people working on the defence systems, while Singh said within five years of operation, his company now employs 1,800 people.

TCS ranks number 1 in customer satisfaction for 3rd consecutive year

TCS (Official Website)
Tata Consultancy Services (TCS) topped the ranking for the IT services industry.

India's Tata Consultancy Services, a leading global IT, consulting and business solutions firm, has topped the customer satisfaction ranking for the third consecutive year, according to a survey on Europe's largest service provider performance.

Tata Consultancy Services (TCS) topped the ranking for the IT services industry and was also rated number one across all nine individual key performance indicators (KPIs).

The survey conducted across 13 countries in Europe by Whitelane Research in partnership with PA Consulting (in the UK & Nordics) is based on the experiences of more than 1,500 business leaders, who oversee 4,500 IT services contracts with a combined annual total contract value of over 40 billion euros.

"To be endorsed as the satisfaction leader in Europe by 1,500 CXOs, validates that we are continuing to be relevant to our customers as they look to significantly transform their businesses," said N Chandrasekaran, CEO and Managing Director TCS.

"We believe that the most important attribute behind our organization's success is our culture of intense focus on customer centricity," Chandrasekaran said.

The company scored the highest rating with 82% general satisfaction a significant 11 points above the industry average.

The industry average of 71% in itself makes the IT Services sector one of the industries that exhibits the highest degree of client satisfaction in the region.

The European Commission's Consumer Market Monitoring Survey indicates that the average satisfaction rating in Europe is only 55% in the 31 services industries it studies.

This year's report has shown a clear priority shift among IT leaders, who are increasingly focusing on business transformation ahead of cost reduction measures.

"For TCS to retain the number one ranking for the third consecutive year amid this changing environment is a tremendous achievement and testament to what is clearly a very customer-focused company culture," said Jef Loos, Head Sourcing Europe, Whitelane Research.

TCS was also ranked first for each of the nine key performance indicators: service delivery, reporting quality, escalation effectiveness, account management, proactivity, price level, contract flexibility, change management and innovation.

The Whitelane IT Study that ranked more than 24 IT service providers based on the opinion of their customers is the most comprehensive customer satisfaction survey.

Health Ministry bans 344 fixed-dose combination drugs including cough syrups

"Altogether 344 such fixed-dose combinations have been banned.

"Altogether 344 such fixed-dose combinations have been banned. We have tried to bring objectivity to the issue by roping in the best of scientists to study the effects," a senior Health Ministry official said. (Reuters)

Following the government ban, pharmaceutical major Pfizer has discontinued manufacture and sale of its cough syrup brand Corex with immediate effect.

Health Ministry has banned about 344 fixed-dose combination drugs, including cough syrups compositions, saying they involve "risk" to humans and safer alternatives were available.

The ban on the drugs comes into immediate effect and the ministry has come out with a gazette notification regarding the matter.

"Altogether 344 such fixed-dose combinations have been banned. We have tried to bring objectivity to the issue by roping in the best of scientists to study the effects. Show cause notices were also issued to more than 344 companies and they were given time to make further representations after the expert committee gave their recommendations," a senior Health Ministry official said.

"Some of them did not even care to respond. Everybody was given ample opportunity. After that, the move was initiated. It was done after much examination," the official said.

According to the notification, the matter has been examined by an expert committee appointed by the Central government.

ALSO READ Pfizer shares down over 6% on ban of fixed-dose drugs by Health Ministry

"On the basis of recommendations of the said expert committee, the Central government is satisfied that it is necessary and expedient in the public interest to regulate by way of the prohibition of manufacture for sale, sale and distribution for human use of the said drugs in the country," the notification said.

The 344 banned drugs include the fixed dose combination of Chlopheniramine Maleate and Codeine syrup sold under the popular cough syrup brand Corex.

Following the government ban, pharmaceutical major Pfizer has discontinued manufacture and sale of Corex with immediate effect.

"This is to inform you that the Government of India vide notification...dated March 10, 2016...has prohibited the manufacture for sale, sale and distribution of fixed dose combination of Chlopheniramine Maleate + Codeine Syrup with immediate effect. In view of this, the company has discontinued the manufacture and sale of its drug Corex with immediate effect," Pfizer said in a BSE filing on Monday.

Fixed-dose combination drugs are combinations of two or more active drugs in a single dose form.

Superman' Henry Cavill feels women hitting on him disrespect girlfriend

'Superman' Henry Cavill feels women hitting on him disrespect girlfriend
'Superman' Henry Cavill feels women hitting on him disrespect girlfriend
(Getty Images)
Superman star Henry Cavill finds it disrespectful when women hit on him in front of his girlfriend, Tara King.

The 32-year-old actor has been dating 19-year-old King since meeting at a nightclub last year and Cavill admitted it can be annoying when women ignore his girlfriend to try to chat him up, reported Female First.

"I've heard some things in my time, I have to say. I'd best not say what. I don't mind it - not unless I'm with my girlfriend and someone is being complimentary to me in order to disrespect her. People who don't respect other people's feelings really get my goat."

Cavill also claimed that he is the victim of catcalls from women and finds it uncomfortable.

"I do think there's a bit of a double standard, you know. I mean, if a girl shouts something like, 'Oi, love' to me as I walk past, I do sometimes wonder how she'd feel if a builder said that to her. Although, of course, I wouldn't feel physically threatened, as she might."

NIIT Tech Q3 net profit up 54% to Rs 74.2 crore on improved tax rates

For the reported quarter, NIIT saw its revenues grow by 14% to Rs 678.7 crore as against Rs 595.3 crore in the year-ago period.

Durind the reported quarter, the company added four new logos (clients), including a large engagement from the UK regulator Ofcom.

IT firm NIIT Technologies on Friday said its net profit has increased 53.9% to Rs 74.2 crore for the December quarter on the back of better operational efficiency and improved tax rates. The company's net profit stood at Rs 48.2 crore in the same period last fiscal.

"The growth came on multiple accounts. We saw expansion of operating margins by 60 basis points. Also, there was an improvement in tax rates and benefit from higher other income," Arvind Thakur, CEO and Joint MD, NIIT Technologies told PTI.

For the reported quarter, NIIT saw its revenues grow by 14% to Rs 678.7 crore as against Rs 595.3 crore in the year-ago period. In terms of geographies, the US contributed 46% to overall revenues, while Europe, the Middle East and Africa (EMEA) accounted for 34%. Asia Pacific's contribution was 10% to the revenues.

Revenues from India contributed 10% of the mix. Among various industry segments, BFSI grew by 2.1% contributing 38% to total revenues, while travel and transportation revenues declined by 3.7% (36% of revenue mix).

"The order intake during the quarter was $123 million resulting in $301 million of order book executable over the next 12 months. We see a good deal pipeline ahead," Thakur said.

The digital segment accounted for 15% of the company's revenues and this sector will see a strong momentum in the ongoing quarter, he added.

During the reported quarter, the company added four new logos (clients), including a large engagement from the UK regulator Ofcom. The company's headcount stood at 9,517 at the end of the quarter, with utilisation of direct resources at 78.7%. The attrition rate was recorded at 13.6%.

Mindtree Q3 net profit up 7.2% at Rs 151 crore; recasts top management

Mindtree also announced the acquisition of Magnet 360 for $50 million in cash, a move aimed at addressing the fast-growing cloud-based services market.

Mid-sized IT firm Mindtree on Monday posted a 7.2% rise in net profit at Rs 150.9 crore for the December quarter on strong growth across segments, and also announced a recast of its top management.

The Bengaluru-based company's net profit stood at Rs 140.8 crore in the year-ago period. The company has reshuffled its management structure at the top level by elevating its CEO and Managing Director Krishnakumar Natarajan as the Executive Chairman, following the stepping down of co-founder Subroto Bagchi. Executive Director and Head Enterprise Service Lines Rostow Ravanan will replace Natarajan, while Bagchi will continue as an independent director.

Mindtree also announced the acquisition of Magnet 360 for $50 million in cash, a move aimed at addressing the fast-growing cloud-based services market.

Mindtree's revenue increased 33.2% to Rs 1,214.5 crore for the said quarter from Rs 911.7 crore in the year-ago period. Talking about the quarter, Natarajan said: "We saw good revenue growth in Q3 as we continue to strike the right chord with our clients. This broad-based result reflects the ongoing momentum of our key focus areas such as Digital and Managed Services."

In dollar terms, the firm reported a 0.2% growth in net profit at $22.8 million and 24.8% rise in revenue to $184.4 million. It had 294 active clients and 16,243 employees (addition of 1,306 employees at gross level) as of December 31, 2015. The trailing 12 months attrition stood at 16%.

Retail, CPG and Manufacturing accounted for Rs 247.3 crore, while BFSI and Technology, Media and Services contributed Rs 305 crore and Rs 367.1 crore to revenues during the quarter. Travel & Hospitality segment accounted for Rs 105.3 crore.

Mindtree has recommended an issue of bonus shares in the ratio of 1:1 (one additional equity share for every existing equity share). This is the second bonus shares issue in the last two years. It has recommended an interim dividend of Rs 4 per equity share of par value Rs 10 each) for the said quarter.

On the acquisition, Natarajan said the $50 million consideration includes an upfront payment of $37 million and earn out and additional payout of up to $13 million over the next two years.

IDBI Bank to raise Rs 3,771 crore through QIP route

IDBI Bank it will raise Rs 3,771 crore instead of an earlier plan of raising Rs 2,800 crore (IDBI Bank Twitter Page - Image Courtesy)
Public sector lender IDBI Bank it will raise Rs 3,771 crore instead of an earlier plan of raising Rs 2,800 crore through qualified institutional plans (QIP) route.

"Board of Directors of the bank has approved revising the QIP issue size from Rs 2,800 crore approved by the Board on November 04, 2015 to Rs 3,771 crore, in line with the Government of India's approval dated December 30, 2015," IDBI said in a BSE filing.

Board of the bank also approved visit of top management team of the bank to larger domestic and International investor centers to target major investor hubs and BFSI focused investors including meetings with big-ticket domestic and foreign investors during the period from January 14 till January 25, 2016 in connection with raising of equity capital of the Bank through QIP route.

At 1243 hours IDBI Bank shares on BSE were trading down 2.72%, or Rs 1.80 at Rs 64.30 per piece.

Amazon steps up Australian book sales through The Book Depository

Most family-owned retailers would try to avoid attracting attention from global e-commerce giant Amazon.

Booktopia chief executive Tony Nash has gazumped Amazon's announcement. Photo: Louise Kennerley

Most family-owned retailers would try to avoid attracting attention from global e-commerce giant Amazon. Not Booktopia chief executive Tony Nash.

Mr Nash has risked raising the ire of the world's largest online retailer by stealing the thunder from a looming announcement by Amazon of its official entry into the $1.8 billion Australian book market through its British-based subsidiary The Book Depository.

The Book Depository entered a third-party distribution agreement in November with Australian logistics company DAI Post and is preparing to announce a push into the Australian market.

Amazon, which recently opened its first physical bookstore in the United States, is stepping up its Australian presence through The Book Depository. Photo: AP

Mr Nash, who acquired Australia's second-largest online book retailer Bookworld in 2015, detailed the Amazon deal to Fairfax Media before its official announcement.

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He says he's ready for the step up in competition.

"It's business as usual for us," Mr Nash said. "We've grown under the shadow of Amazon and The Book Depository and we've grown at 30 per cent-plus every year. They've never been a threat to us."

Australian booksellers believe Amazon's share will rise as The Book Depository adds more Australian titles to its catalogue and reduces delivery time from a few days to a few hours. Photo: Fairfax

Booktopia ships four million books a year from a 10,000-square-metre automated distribution centre at Homebush, in Sydney, and holds 750,000 units and 110,000 titles in stock.

Booktopia expects sales to rise from $52 million a year ago to more than $80 million in 2016, following the acquisition in 2015 of Bookworld from publishing house Penguin Random House.

Amazon and The Book Depository are the largest players in the Australian online book market and are estimated to sell more than $200 million of books a year to Australian consumers.

Australian booksellers believe Amazon's share will rise as The Book Depository adds more Australian titles to its catalogue and reduces delivery time from a few days to a few hours.

Mr Nash said The Book Depository's official entry into the Australian market would shine a spotlight on the strong growth in the online book market, as Booktopia considered a sharemarket listing. Late in 2015 the company hired investment bank Investec to advise on strategic options, including an initial public offering, a trade sale or a capital raising.

"More and more people are buying online. We are now the legitimate alternative to an international player like Amazon," he said.

���Australian Booksellers Association chief executive Joel Becker questioned whether Australian consumers who bought books from The Book Depository would have to pay GST on purchases of less than $1000, adding to the cost of purchases.

"At the moment they have a 10 per cent price advantage," Mr Becker said. "If The Book Depository has a presence here we'd want to ensure they have to pay that tax."

More than one-third of bricks-and-mortar book retailers are estimated to have gone out of business in the past 10 years, IBISWorld figures show.

Retail book sales have been falling more than 5 per cent a year over the past five years, but online book sales have surged 26 per cent a year.

BFSI Q2 earnings drop 3%; bad loans rise to 4.3%

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Corporate earnings to grow only 2% in December quarter: Crisil

Crisil (Twitter)
Corporate earnings growth is expected to fall around 2% for the December quarter owing to a plunge in commodity prices coupled with weaker investment demand, according to Crisil Research.

"Crisil Research expects corporate (excluding BFSI and oil and gas companies) revenue to grow a measly 2% in the three months ended December 31, 2015, driven by low-base effect amid crushed commodity prices, weak investment demand, flagging rural consumption," it said in a statement.

Corporate earnings witnessed a growth rate of 5% in the corresponding quarter last fiscal. Excluding sectors with topline linked to commodity cycle such as steel, petrochemicals and man-made fibres, the revenue growth is likely to improve, it said.

The research firm further said the earnings before interest, depreciation, taxes and amortisation (EBITDA) growth is expected to improve by just 1.8% (180 basis points) to 5.8% against 4% in the first half of the current fiscal, propelled by improvement in gross margin.

"With growth rates still trending below estimates, we believe the consensus earnings estimates for both this fiscal and next will have to be pared further," it added.

Crisil analysis is based on 600 companies (excluding financials and oil and gas) that account for 70% of the market capitalisation of the NSE.

"Sectors more focused on urban consumers such as automobiles, media, retail, and telecom are projected to post healthy double-digit topline growth. Mid-sized pharmaceutical companies are also expected to do well due to strong growth in exports to the US. But in general, India Inc is grappling with poor demand sentiment. With lower input costs and intense competition, pricing has also been impacted," Crisil Research Senior Director Prasad Koparkar said.

Besides, the Chennai floods will also impact the December quarter numbers of consumer discretionary sectors as well as IT services, auto components and engineering, he added. It expects capital goods manufacturers to see a growth of nearly 2%.

On the brighter side, power generation companies will see a healthy growth of 7-8% led by commissioning of several projects in the last few months coupled with a gradual improvement in offtake.

Sensex up for fifth straight day, rises 147 points

Bombay Stock Exchange (PTI)
Indian shares edged up for the fifth consecutive session on Tuesday as the market benchmark Sensex rose by 147.33 points to 26,932.88 on sustained foreign fund inflows amid prospects of a delay in the US Fed rate hike.

However, gains were muted following profit-booking in IT, teck banking and power stocks.

With this, the BSE barometer has gathered 1,316.04 points in five sessions and stands at a fresh one and a half months high of 26,932.88, a level last seen on August 21.

Globally, other Asian markets ended mixed, while European markets were flat in their early trade.

Meanwhile, a provisional data showed that foreign investors bought shares worth Rs 650 crore on Monday.

"Fading chances of a US Federal Reserve rate hike this year continued to boost sentiments and Asian markets continued to post positive performance for second consecutive session," said Achin Goel Head of wealth management and Financial Planning at Bonanza Portfolio.

After resuming higher, the BSE Sensex quickly recaptured the 27,000-mark and touched a high of 27,010.27, but on profit-booking it slipped into negative zone briefly. However, the index bounced back to settle at 26,932.88 -- a gain of 147.33 points or 0.55%.

The wider NSE Nifty too continued its rising streak to touch 8,180.95 before ending 33.60 points or 0.41% higher at 8,152.90.

From the Sensex pack, Tata Motors remained the top gainer for the second day with a surge of 5.81% to Rs 333.50 on sales data for September and reports that Jaguar Land Rover's US unit sales soared.

Other prominent gainers were ITC, Coal India, Cipla, GAIL, ONGC, HUL, Dr Reddy's, Vedanta, Sun Pharma, Tata Steel, RIL, Hero MotoCorp, Hindalco, ICICI Bank, Bharti Airtel and L&T.

Among 30-Sensex components, 19 stocks gained. While, BHEL, Infosys, Maruti Suzuki, NTPC and Axis Bank ended lower.

Sectorwise, BSE consumer durables index gained the most by surging 4.30%, followed by FMCG 2.41%, metal 2.14%, oil&gas 1.92% and PSU 1.11%.

In line with broad trend, small-cap index rose 0.69% and mid-cap was up 0.31%.

Job market eyes over 10-lakh hiring, hefty hikes in 2016

(File Photo)
Good news awaits the job market in the new year with the companies expected to add more than 10 lakh employees to their payrolls and dole out hefty salary hikes in the range of 10-30% for right talent in 2016.

According to HR experts and headhunters, the year 2015 saw a bullish trend in terms of hiring activities and the same is likely to continue in 2016 on favourable economic growth forecast and the emergence of a startup ecosystem in various sectors including retail, finance and technology.

Besides, the job market can get a further boost from the entry of new global players including in the manufacturing space and into the sectors that have been opened further for foreign investments.

"The organised sector in India is set to create about one million new jobs in the calendar year 2016," Rajesh Kumar, CEO of MyHiringClub.com and JobPortal.co.in said.

Besides, the salary hikes and bonuses in India are expected to be in the double digit this appraisal season.

According to a new survey by MyHiringClub.com, a recruitment platform, most employers are optimistic about their hiring plans in 2016. The survey covered 5,480 companies across 12 industry sectors in 21 major cities.

The latest TimesJobs.com Job Outlook 2016 survey of over 1,614 employers across India also shows positive hiring plans by nearly 60 % of the surveyed organisations. The survey covered over 1,614 employers across India.

"With the government's Digital India and Make in India push, manpower demand is bound to increase in core technology and manufacturing sectors in 2016," TimesJobs.com COO Vivek Madhukar said.

The e-commerce and startups will add a significant number of jobs this year, he added.

On salary front, HR experts forecast handsome pay hikes and the hikes could be much higher for the top talent. The 7th Pay Commission recommendations, which call for a hefty hike in salaries of the government employees, are also expected to have a ripple effect in the private sector.

"In the year 2016, average raise of the salary will go around 12 to 14% wherein the key performers salary hike can hit as good as 25 to 30%," executive search firm GlobalHunt's Managing Director Sunil Goel said.

According to Naukri.com Chief Sales Officer V Suresh, "2016 will be an year to cheer for job-seekers across sectors. Our Naukri Hiring Outlook also predicts IT/ITES and BFSI to sustain the momentum gained in the coming year as well."

Echoing similar sentiment, staffing firm Teamlease Managing Director Ashok Reddy said, "We are expecting a 10-12% increase in hiring in 2016 as favourable growth forecast coupled with renewed faith in the ongoing reforms and fast clipped consumer spending is expected to boost the employment scenario".

The major quarterly hiring surveys also predict a bullish start for the year 2016.

According to global executive recruitment firm Antal's Global Snapshot, nearly 88% of companies in India have hiring plans for 2016. The quarterly Manpower Employment Outlook Survey puts India as the most optimistic among 42 countries in terms of hiring plans for the first three months of 2016.

"In the white-collar space, 2015 saw a huge impetus from highly funded start-ups with the largest ones ramping from a few hundred to a few thousand people. If the funding continues in 2016, we will see more jobs being created there," said Harpreet Singh Grover, CEO & Founder of CoCubes Technologies, an assessment platform.

Experts believe that initiatives like 'Make in India' can entail significant job creation in the manufacturing, automation sectors in the coming year. The plan to create 100 smart cities is expected to fuel the job growth further.

"As major expansions are poised to materialise by next September, hiring will become more proactive, especially before the appraisals in March 2016," Satya D Sinha, CEO of executive search firm MANCER Consulting said.

According to Spectrum Talent Management's Co-Founder Vidur Gupta, the significant rise in job numbers in 2016 will be largely owing to a couple of new horizons opened through technology in engineering/ITeS/Pharma/E-Commerce.

Other promising areas include bio-science which is going to create a slew of vacancies in the coming year, said Rajesh Tripathi VP and Head of HR at GHCL.

Rituparna Chakraborty, President of Indian Staffing Federation, said the IT sector is likely to create around 2.7 lakh jobs, while nearly 1.5 lakh jobs can come in e-commerce.

Other major areas for job creation include digital marketing (about 1.5 lakh) and banking and finance (about 3 lakh).

The retail and automobile sector also have huge job creation potential.

"Overall there will be a significant growth in terms of organised sector jobs in 2016 and sector-wise, recruitment in the startup space is going to be very strong. Other bullish sectors include BFSI, IT-ITeS and green energy mostly solar," K Pandia Rajan Chairman Ma Foi Group said.

Saurabh Gupta, Director of Clickjobs.com, said, "With an increase in the overall industries across all sectors, be it telecom, industrial goods, infrastructure or services, the entire hiring activities will see an increase in numbers and the focus will be on technical qualifications in 2016."

Average daily trading volume surge nearly 3 times on NSE

Representational Image
Average daily trading volume in interest rate futures (IRF) on NSE surged nearly three times to Rs 2,562 crore during the first seven months of this year.

The average daily turnover stood at Rs 984 crore in January-July of 2014.

Besides, average daily volume on NSE soared over two times to Rs 2,547 crore in April-July of the current fiscal.

"Now that more products are available at the exchange with different tenures, there are more choices available in the IRF segment," NSE Business Development Chief Ravi Varanasi said in a statement.

"As interest rate affects almost everyone, participation in this segment is increasing," he added.

NSE had introduced two new IRF contracts -- one bearing 8.27% interest and maturing in 2020 and another with 7.78% maturing in 2030.

With these, four different interest-bearing government securities are now traded on the exchange platform.

An IRF contract is an agreement to buy or sell a debt instrument at a specified future date at a fixed price.

It can be used by an entity to offset the risk associated with interest rate movements.

IT, Telecom, BFSI see rise in year-on-year demand for talent: survey

(Getty Images)
With digitisation, Internet of Things (IoT) and more policy reforms on the cards, this growth trend is expected to continue into next year, the survey has found.

IT and telecom sectors posted an increase of 17% in hiring activity, while the BFSI sector posted a 9% rise in talent demand year-on-year (y-o-y), buoyed by the wave of development created by the government's initiatives like Digital India and Smart Cities, a survey by Timesjobs.com has found.

The demand for skilled professionals in the banking, financial services, insurance, IT and telecom sectors have all seen consistent upward trends, even as the overall RecruiteX demand index dropped has by 8% y-o-y, the survey said.

IT and telecom sectors clocked a whopping 17% rise in demand between November 2014 and 2015, and were the top employment generators even at the start of 2015 with nearly 20% rise in demand in January.

Between January and November 2015, the sector continued to consistently register a rise in talent demand each and every month.

"The TimesJobs.com RecruiteX for the IT and Telecom sectors has been rising steadily for the past six months. With digitisation, Internet of Things (IoT) and more policy reforms on the cards, this growth trend is expected to continue into next year. However, the sector is expected to be cautious of mass hiring in fiscal 2016, and would be largely taking stock and focusing hiring needs on niche roles," says Vivek Madhukar, COO, TimesJobs.com.

The Banking, Financial Services and Insurance (BFSI) sector has also registered a 9% growth in hiring between November 2014 and 2015 while the consulting services sector posted a 4% rise y-o-y.

-- Travel and hospitality sectors posted a 3% rise in demand y-o-y

-- Demand in media and entertainment industries has been stable between November 2014 and 2015.

-- Demand for IT and Telecom professionals also grew by 15% in the same period.

-- Business management consultants and freelancers also witnessed a 14% rise in demand.

-- Demand was up by 16% for lawyers and for legal professionals as well y-o-y.

-- Content, editorial and journalists' profiles also saw an 8% rise in demand

The demand index for experienced professionals grew significantly between November 2014 and 2015. Candidates with over 2-5 years and 5-10 years of experience posted 18% and 13% increases in demand y-o-y, respectively.

"With both big companies and start-ups in expansion mode and some venturing into new business avenues, demand for experienced professionals, especially at the middle-level, will rise to sustain credible growth rates," Madhukar added.

Senior profiles of candidates with 10-20 years experience have also reported 6% rise y-o-y.

Among metros, flood-hit Chennai's recruitment index in November 2015 dropped by 1% on y-o-y index. While, in October 2015, talent demand was up by 16% in the city.

Bengaluru topped the charts again with over 30% rise in talent demand between November 2014 and 2015. Among non-metros, Ahmedabad also saw over 30% rise in talent demand, according to TimesJobs.com RecruiteX.

Sensex trips 109 points ahead of GDP data; Nifty down 31 points

Bombay Stock Exchange (PTI)
In a highly volatile trade, market benchmark Sensex on Monday dropped over 109 points and the Nifty slipped below the 8,000-mark due to selling by funds and retail investors ahead of the release of June quarter GDP data and weakness in domestic currency.

Moreover, a mixed trend in other Asian markets with China's index falling 0.82% after the US Fed hinted that it may go ahead with an interest rate hike in September, also weighed.

The 30-stock BSE index opened on a positive note at 26,469.42 and advanced to touch the day's high of 26,504.73.

However, it gave up early gains and slipped into the red to hit a low of 26,215.16. The index finally settled 109.29 points or 0.41% lower at 26,283.09.

The gauge had gained 677.72 points in last two sessions.

On similar lines, the NSE Nifty dipped below the 8,000- mark by falling 30.65 points or 0.38% to 7,971.30 after shuttling between 8,043.60 and 7,947.95, intra-day.

Sentiments turned weak ahead of India's gross domestic product (GDP) data for June quarter, to be released later in the day, and concerns over the deficient rains, brokers said.

On monthly basis, the BSE Sensex has plunged by 1,831.47 points or 6.51% and the NSE Nifty dropped by 561.55 points or 6.58%.

At the forex market, the rupee was trading 28 paise lower at 66.42 against the dollar (intra-day).

BHEL was the worst Sensex performer at 3.45%, followed by Bharti Airtel 2.14%.

Other losers included Hindalco (2.08%), ICICI Bank (1.92%), RIL (1.65%), ONGC (1.54%), Tata Steel (1.51%), Infosys (1.40%), Maruti Suzuki (0.89%), SBI (0.86%), HDFC (0.80%), M&M (0.79%) and L&T (0.72%).

Bucking the trend, pharma stocks including Cipla, Dr Reddy's, Lupin and Sun Pharma surged up to 3.55%.

Besides, a mixed closing at other Asian markets and lower opening European markets, too influenced sentiments.

Among BSE sectoral indices, power fell the most by losing (1.54%), followed by realty (1.34%), infra (1.31%), capital goods (1.08%), auto 0.77%), consumer durables (0.49%), FMCG (0.40%) and banking (0.34%).

Selling activity also re-emerged in the broader markets with the BSE mid-cap index declining 0.23% and small-cap dropping by 0.20%.

Meanwhile, foreign investors bought shares worth Rs 56.41 crore on Friday.

Lower level buying helps Asian stocks rebound from 3-year lows

Tokyo Stock Exchange (dna Research & Archives - File Photo)
Volatile global markets showed signs of a respite from the recent blood-letting on Tuesday, as bargain hunters helped Asian stocks off three-year lows hit on fears that China's economy was risking a hard landing, with Chinese shares losing another 5%.

The MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.7% after an initial dip to three-year lows while Japan's Nikkei index also erased most of its early losses after an intial drop of 4.3%.

"There appears to be buyback as many markets look oversold after panicky selling in the last few days. Even the shares that had little business ties with China were sold," said Yukino Yamada, senior strategist at Daiwa Securities.

U.S. stock futures also gained 2.0% in Asia, paring a part of its 5-percent fall the previous day.

But mainland Chinese shares bucked the trend, with Shanghai Composite Index falling another 5% even after 15% fall in the last three days, including 8.5% drop on Monday.

"Global investors are cannibalising each other. Calling it a market disaster is not an overstatement," said Zhou Lin, an analyst at Huatai Securities.

"The mood of panic is dominating the market ... And I don't see any signs of meaningful government intervention."

Underlining concerns about China, Japanese Finance Minister Taro Aso said on Tuesday he hoped China would take action to stabilise its economy and that Tokyo had no plan for now to unveil its own new economic stimulus package.

MSCI's all country world index is up 0.2% in Asia after having fallen 3.8% on Monday to a 10 1/2-month low, its biggest fall in almost four years.

Global share markets have been hit by worries that the Chinese economy, the most important engine for the world economy, was growing at a much slower pace than Beijing's 7% target for 2015.

Investors are also unnerved by uncertainty over U.S. monetary policy. The Federal Reserve has said it plans to raise interest rates this year for the first time in almost a decade.

The heavy fall in share prices worldwide over the past week has sharply reduced expectations of a U.S. rate hike in September, but the outlook is far from clear.

Atlanta Fed President Dennis Lockhart, whose comments earlier this month sparked expectations of a hike in September, said on Monday that the Federal Reserve will likely begin raising rates "sometime this year."

On Wall Street, the S&P 500 Index fell 3.9% to a 10-month low on Monday. The CBOE volatility index, a key measure of U.S. equity volatility, shot up to more than 50% at one point for the first time since the 2008 global financial crisis.

Because some investors often fund their investment in risk assets by borrowing low-yielding euro and yen, the sell-off in shares helped send both currencies to seven-month highs.

The euro rose as high as $1.1715 while the yen strengthened to 116.15 to the dollar.

But both currencies stepped back in Asia. The euro slipped 0.7% to $1.1531 while the yen retreated to 120.02 to the dollar.

Oil prices also stabilised in Asia after having plunged more than 6% on Monday to 6 1/2-year lows.

U.S. crude futures traded at $38.73 per barrel, gaining a dollar from Monday's low of $37.75.

Brent crude futures last stood at $43.20 after having fallen to $42.23 on Monday.

Brent still stood not far from $36.20, its low hit in the aftermath of the global financial crisis, having fallen more than 66% from last year's peak.

Wall Street posts steepest one-day drop since 2011 on China fears

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Rupee recovers 26 paise on fresh selling, weak dollar

(undefined - File Photo)
The rupee recovered by 26 paise to 66.39 against the dollar at the Interbank Foreign Exchange in early trade on Tuesday on fresh selling of the US currency by banks and exporters.

Dealers said fresh selling of the US currency by exporters and banks, and weakening of dollar overseas supported the domestic currency.

Gains in stock markets also helped rupee strengthen against the dollar, they added.

The rupee had tumbled sharply by 82 paise, its biggest single day fall this year, to settle at 66.65 against the dollar on Monday as global meltdown fears remained unabated.

The widespread panic sell-off in Chinese equities predominantly tipped emerging market currencies into turmoil even as the US dollar weakened overseas.

Meanwhile, the benchmark BSE Sensex today regained the 26,000-mark by rebounding 383.27 points, or 1.48%, to trade at 26,124.83 in opening trade.

Sensex still down 409 points; Tata motors, Vedanta top losers

BSE
The benchmark BSE Sensex was still down by 409 points hitting in late morning trade -- its lowest level in more than nine weeks -- due to all-round selling pressure mainly in auto, banking and capital goods stocks on the back of sharp fall in global market.

The market breadth indicating the overall health of the market was also weak.

Sensex opened lower at 27,440.10 and hovered in a range of 27,442.82 and 27,131.44 before quoting at 27,198.98 at 1100 hrs, a fall of 408.84 points or 1.48 per cent from its last close.

The 50-share Nifty fell by 124.55 points or 1.49 per cent to 8,248.20 at 1100 hrs. Nifty also hit its lowest level in seven and a half months weeks.

Major BSE losers were Tata Motors (4.02 pc), Vedanta (3.81pc), SBI (3.79 pc), Tata Steel (3.66 pc), GAIL (3.60 pc), Hero MotoCorp (3.52 pc), BHEL (3.45 pc), Axis Bank (2.94 pc), L&T (2.72 pc), ICICI Bank (2.46 pc), Bharti Airtel (2.45 pc), HDFC (2.26 pc), Bajaj Auto (2.19 pc) and Hindalco (2.12 pc).

Foreign investors sold shares worth Rs 1,007.26 croreon Thursday as per provisional data released.

Overseas, Asian stocks edged lower. Key indices in Japan, China, Hong Kong, Taiwan, South Korea and Singapore were off between 1.88 per cent and to 3.11 per cent.

In the New York market, US stocks suffered their worst sell-off in 2015 overnight as markets were buffeted by worries about a slowdown in global growth.

Today's Sensex fall is 4th biggest in history

BSE (dna Research & Archives - File Photo)
As stock markets witnessed bloodbath on Monday, the Sensex recorded an intraday fall of 1,153.16 points till noon -- making it the biggest crash in about seven years and the fourth biggest ever for the BSE benchmark index.

Interestingly, eight out of the top-ten intraday falls took place in the year 2008. Monday's fall is biggest since October 24, 2008.

Following are the ten biggest ever intraday falls for Sensex so far:

January 22, 2008

2,272.93 points

January 21, 2008

2,062.20 points

October 24, 2008

1,204.88 points

August 24, 2015

1,153.16 points

October 10, 2008

1,088.60 points

March 17, 2008

1,022.25 points

February 11, 2008

1,007.15 points

October 27, 2008

1,003.68 points October 8, 2008

954.48 points

July 6, 2009

953.61 points

IT firms to scramble for H1-B visas this year too

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Rupee depreciates further against dollar; down by 27 paisa

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Mark Knopfler: The Sultan of String

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Jayadev Calamur is Assistant Features Editor, Special Features at Zee Media Corporation Ltd.

By, Jayadev Calamur

IST | Place: Mumbai | Agency: dna

By, Jayadev Calamur

IST | Place: Mumbai | Agency: dna

Jayadev Calamur is Assistant Features Editor, Special Features at Zee Media Corporation Ltd. He collects action figures and lives with his family in Mumbai

Sensex advances 29 points;Nifty above 8,500-mark in early volatile trade

BSE (Reuters)
The benchmark BSE Sensex rose by 29 points in early trade on Friday on increased buying by funds and retail investors despite a weak trend Asian markets.

In a volatile trade, the 30-share barometer advanced by 29.00 points, or 0.10% to 27,960.64 after slipping to 27,828.12. The gauge had gained 100.10 points on Thursday.

Buying in stocks of healthcare, consumer durables, FMCG and oil & gas helped the Sensex gain in early trade.

Also, the NSE Nifty was trading above crucial 8,500-mark at 8,501.85 points, up 6.20 points or 0.07%. Brokers said buying by foreign funds and retail investors helped key indices trade in the positive zone.

However, a weak trend at other Asian markets weighed down by losses on US markets and concerns about the stability of China's economy limited the gains on the domestic market.

Among other Asian markets, Hong Kong's Hang Seng fell 1.14% while Japan's Nikkei shed 0.61% in early trade today. Shanghai's Composite index down 0.50%.

The US Dow Jones Industrial Average ended 0.93% lower in Thursday's trade.

Review: Harry Potter finale is stunning; a splendid affair

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By, Aniruddha Guha

IST | Agency: dna

By, Aniruddha Guha

IST | Agency: dna

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"Cinema is an old whore, like circus and variety, who knows how to give many kinds of pleasure."

- Federico Fellini, filmmaker