Professional Documents
Culture Documents
WWW.ECONOMICTIMES.COM
MUMBAI | 26 + 4 PAGES OF ET PANACHE| .` 3.00 OR .` 7.00 ALONG WITH THE TIMES OF INDIA
No fare hike, a
semi-high-speed
train called
Gatimaan, and
rationalisation of
concessions may
be the features in
the Rly budget to
be presented on
MONDAY, 15 FEBRUARY 2016 Feb 25 P 1
Budget May Focus on Structural Reforms, Rural Growth Suspense on Over Sebi Chief Appointment Infosys to Revive ESOPs for Top Staff: P 1
BUSINESS OF BRANDS8
WORLD VIEW21
SPORT24
Maharashtra may
Get Investment
Proposals Worth
`. 4.6 Lakh Crore
Maha Beginning
Total MoUs ` 4.60 lakh cr
MOUs
AMOUNT*
324
2,50,530
61
1,49,825
38
54,080
6,000
424
4,60,435
MAHAGENCo
MEDA
Maritime
Total
Industries
MUMBAI | 26 + 4 PAGES OF ET PANACHE | *.` 3.00 OR .` 7.00 ALONG WITH THE TIMES OF INDIA
*in `cr
Krishna.Kumar@timesgroup.com
Massive Fire at
Cultural Event
A massive fire broke out on
Sunday evening during a
cultural function organised
as part of the Make In India event,
report Krishna Kumar and Anirban
Choudhary. The fire completely
gutted the stage, but there were no
casualties. Chief minister Devendra
Fadnavis, Governor Vidyasagar Rao
and Shiv Sena president Uddhav
Thackeray were in audience when the
fire broke out. 15
TWIN FOCUS Jaitleys agenda involves pushing reforms to lift growth while
tackling rural stress via social security measures and changes in agri policy
Balancing Act
Govt Readying a
Two-pronged Budget...
It would
seek to
address
rural stress
Look to
broaden
social
security
framework
Give
Boost savings
boost to
investment- flow to
led growth equities
A health
insurance
on cards
Measures to
boost rural
Leverage
productivity
Jan-Dhan
through
platform to
emphasis on
broaden
social security infrastructure
Encourage
systematic
investment
plans
Monetisation
of railway
resources,
branding of
coaches etc.
Semi-highspeed
premium
train
Gatimaan
More Suvidha
trains with
demanddriven
dynamic fares
ECOMMERCE
LIFTOFF
Biswarup Gooptu
& Madhav Chanchani
Building Warchest
SNAPDEAL HAS RAISED
$200 MILLION
Key shareholders in
Snapdeal are SoftBank,
Foxconn, Alibaba, Nexus
Ventures, Kalaari Capital
and eBay
Deal values
company between
Capital will
come in handy
as it competes
with market
leader Flipkart,
US-based
Amazon and
Alibaba-backed
Paytm
Snapdeal has
been betting
on diversication in areas
like payments,
services and
hyper-local to
differentiate
itself from peers
Ratan Tata
Invests in
SnapBizz
Fabled ESOPs
INFOSYS COO Pravin Rao
says company nalising a
stock option plan for top and
mid-level management
MOVE part of broader strategy
to attract top-level talent from
outside and to retain key existing executives
INFOSYS was one of the rst
Indian companies to offer ESOPs
to employees in the 90s
IT HAD discontinued ESOPs in
the early 2000s, since the
model was difcult to scale up
with increased headcount
BUT THE IT company
created a stock option plan
for CEO Vishal Sikka when
he joined the company in
August 2014
New chief chalks out plan for Flipkart to take on global ecomm giants
Madhav Chanchani &
Aditi Shrivastava
Gadkari at ET
Markets Meet
Anirban.Sen@timesgroup.com
$200-million Fundraise
Values Snapdeal at $7B
In 2011, Infosys
founder NR Narayana Murthy had
said the company
had given away
`50,000 crore
of stock options to
employees since
its inception
Retail tech
startup SnapBizz has raised
an undisclosed amount of
funding from Ratan Tata,
chairman emeritus of Tata
Sons, reports Shashwati
Shankar. The company
aims to change the face of
the small-scale retail
sector in the country,
empowering kirana stores
to have a competitive edge
by making them "virutal
super markets". 6
BINNY BANSAL
CEO, Flipkart
We are focused on
two areas, commerce
through Myntra and
(Flipkart), and supply
chain...We are taking
abig bet on externalising eKart
2 Pure Politics
Singhs Saeed
Remark Sparks
Controversy
On such occasions,
the entire country should
be speaking in one voice. I
would also appeal all
political parties not to
view such episodes
through the prism of
political gains and losses
RAJNATH SINGH Home Minister
We have arrested
only one person and he is
being questioned regarding
the role of others involved
BS BASSI, Delhi Police Commissioner
POLICE SUSPECT
that nearly a
dozen students
and outsiders were
involved in raising
anti-India slogans
A Group of
Youths Attacks
CPM HQ
Working
with
RJD Suspends
Compensation
MLA on Rape
Charges
Experts
From Page 1
THIRD
ZAHID
EYE
Mcoca Applicable
on Sadhvi, Purohit
Rahul.Tripathi@timesgroup.com
Campus Crackdown
A Strong Case?
CASE MAY
come up for
hearing before
the special NIA
court today
SEEKING EXTENSION
Agency will
seek extension of time
from court to file opinion of AG on the applicability of MCOCA: Rasal
ministrative/academic discussions
comes under doubt, a prominent
V-C told ET when asked about deteriorating situation on campuses.
What happened in Hyderabad or
elsewhere shows the kind of pressure that can be mounted by ruling
dispensation on university administrations. But one has to give in at
times otherwise universities can
suffer terribly, a former Central
University V-C told ET.
FILE PHOTO
JNU INCIDENT
NC Condemns
Police Action,
Questions
PDP Silence
HakeemIrfan.Rashid
@timesgroup.com
IN THE DOCK Document, which is being scrutinised by the prosecution branch of Delhi Police prior to its filing,
concludes that climate scientist misused his office as DG of Teri and there is enough evidence to prosecute him
Who is Responsible?
Pachauri is set
to be
charged
under
all four sections
of the IPC he was
booked under by
Delhi Police
Police probe
rejects
Pachauris
contention
that his electronic devices were
hacked, but an FSL
report in this regard is
awaited
Pachauri
made 34 calls
to complainant from his
mobile phone
between Feb 2014 and
March 2015, while the
complainant called him
26 times: Document
FILE PHOTO
ARINDAM
cannot practice intolerance. Here, so many secularists protested against intolerance, that is a
good sign, she said. Killing people for eating
beef is not intolerance but a heinous crime. It
needs to be stopped, Taslima told a Malayalam
television channel. Pakistan should not have
denied visa to actor Anupam Kher, she said.
However, after Pakistans U-turn, Kher should
have gone there, she said. PTI
THIRUVANANTHAPURAM: Renowned
Bangladeshi author Taslima Nasreen feels killing people for eating beef is not intolerance but
a heinous crime and it should be stopped. It
is not that suddenly intolerance has started
here... India as a country is not intolerant as
India has Constitution and laws which do not
support intolerance. But some people are intolerant everywhere...because of strict laws you
DOCUMENT GIVES DETAILS OF OVER 6,000 SMSES AND WHATSAPP MESSAGES EXCHANGED BETWEEN PACHAURI AND THE
COMPLAINANT BETWEEN SEPT 2013 AND FEB 2015
THE COMPLAINANT
I do not wish
any other woman...to be inflicted with what I have been
subjected to at the hands
of Dr. Pachauri
and only an object of his desire. He assaulted and violated my modesty and
body, on multiple occasions, through
unwanted acts of grabbing, hugging,
groping, touching and forcefully kissing me within and outside the workplace despite my fervent pleas and requests not to indulge in such
behaviour with me despite my clear
and unambiguous refusals.
She went on to say: I do not wish
any other woman or even a human
being to be inflicted with what I
have been subjected to at the hands
of Dr. Pachauri.
Emphasis to Remain
on Strengthening
RailWar
Network This Year
Pachauri
Enjoys
Poster
Luncheon at
Difference of
Opinion
on ISIS
From Page 1
Issues
relatingfares
to the
ISIS
threat
However,
are
likely
to be kept
are the
latest hot
between
unchanged
inspot
the Budget
for the secondand
year
in aRSS
row.affiliates.
The emphasis
the BJP
other
will remain on strengthening the
Rajnaths
initial contention that
rail network, rather than announIndian
youth
would not be lured
cing
new projects.
was a hike
Though
there earned
by the
terror outfit
him in freight
in the
last Budget, the
the ire
ofcharges
VHP, which
demanded
railways is not considering it this
thattime,
as home
minister
Singh have gone
since
diesel prices
should
take
ISIScross-subsidising
seriously. Some pasdown
and
sengers
is not
seen as that
good econoministers
have
suggested
mics. The prevalent view in the mithe group
be referred to as Daenistry is that even a 10% hike in fash, ares
term
used
byin
France,
US Rs 4,500
will
bring
just about
additional
revenue, which
andcrore
someof
European
countries.
Support at Teri
is not worth the effort. Sources told vel have increased by more than
ET that even the Prime Ministers 4% due to the levy of service tax
Aof
day
before
Teri
governing
Office was not in favour
a fare
hi- the
and
Swachh
Bharat cess, but procecouncil tweawas to decide
Pachauris
ke. The railways had already
eds from
these wont add to railwaked certain concessions,
and director
ys revenue.
fate, the new
general Ajay
changed refund and Tatkal rules
To generate more funds, the focus
Mathur
held
a
meeting
with instiwill continue to be on rationalising
outside the Budget.
tutes senior
What struck
While cancellation charges
wereofficials.
269 categories
of concessions, a
doubled, seats under him
Tatkal
new catering
policy with stress on
waswere
the support
Pachauri
increased to 30% from
10% in all
e-catering
under
continues
to have
at Teri. One
of the Indian Railtrains, bringing in more revenue. way Catering and Tourism Corpothe
official
said
since
Teri
and
The Tatkal changes alone will me- ration subsidiary, monetising railwere synonymous
an an across the boardPachauri
hike of over
way propertywith
by encouraging ad5%. There is no need toeach
announce
a vertisements
and branding of traother, Pachauri
should be
hike in the budget, an official in ins, and attracting investments in
backed. Another suggested a
the traffic directorate of the rail- building private freight terminals
constituted
to
way board explained.group
Also,should
since be
and
sidings. Coaches
of the trains
class
traor even the name of the trains could
November, fares for upper
handle
the
media.
in Delhi
sition. Projects
in the northeasGreen
House
tern states may be put on the fast
Paryavaran
Bhawan
witnessed
track for strategic
reasons.
some
interesting
activityfinancial
last
Even
as the railways
sito be bleak with
tuation continues
Thursday
when environment
min-a
decline in both passenger and freister
Prakash Javadekar hosted a
ight earnings, topped with a Rs
lunch
for a group
of ministers
at his
32,000-crore
burden
from the
7th
Pay Commission,
is likely
office.
The ministersPrabhu
were interesttoinannounce
the
semi-high-speed
ed
viewing the
green
building
Gatimaan train as a feel-good facthat
boasts
of
an
automated
multitor. Certified to run at a speed
of 160
level
parking,
lighting
kmph
fastersensor-based
than the existing
Shatabdi trains
the trial
runs
of the
systems,
provisions
to tap
in natufirst Gatimaan between Delhi and
ral
light in work areas and so on.
Agra are in the final stages. These
Among
who attended
includwould those
be premium
trains with
rakes
built minister
by Linke Piyush
Hofmann
Busch.
ed
power
Goyal.
Pure Politics
WWW.ECONOMICTIMES.COM
CM Anandiben Patel
4 Pure Politics
Alleging Jungle Raj II: NDA leaders in Patna after meeting Bihar Governor-K M Sharma
INVITING THE BEST US pitched Lockheed Martins F 16; last top level discussion held in
November. India considering 3 more proposals to make fighter jets in India
Q&A
Manu.Pubby@timesgroup.com
New Delhi: Even as controversy has erupted on the transfer of eight F 16s to Pakistan by the
US, Delhi has been considering a
proposal to manufacture the
fighter jets under the Make in
India initiative.
In several recent meetings, including a high-level interaction in
November last year in
Washington, the aircraft have
been offered for local production
both to meet Indian requirements and for exports.
The Lockheed Martin (LM) manufactured F 16 is one of the several
fighters that has been proposed to
be manufactured in India and is being actively pushed by Washington,
senior officials told ET. It is also understood that LM had even raised
the possibility of local manufacture during the meeting of one of
LOCKHEED
MARTIN RAISED
the possibility of
local manufacture during the
meeting of one of
its top executives
with PM Narendra
Modi last year
ADVANCED VERSION
The offer to
make the F 16 in
India was for advanced F 16 IN Super Viper
AIRBUS PROPOSED TO
create a Euroghter City
in India that would produce its jet and generate
thousands of jobs
Sarma, who quit Cong due to differences with Assam CM, speaks with
Rakesh Mohan Chaturvedi on AGP alliance and other issues. Excerpts:
BJPs campaign focuses on 15
years of Congress rule under Tarun
Gogoi and seems to lack a positive
agenda. Your comments?
No, BJP has nothing against Tarun
Gogoi as an individual. We have a
positive agenda and that is to fight
for the identity of Assam. In 33 assembly seats, the migrants constitute
90% of the populationthey are
Bangladeshis. Indian origin people
cannot think of contesting here.
Why did you leave the Congress
and join BJP?
Congress is depending on the votes
of the migrants (those who came
from Bangladesh). Badrudin Ajmal
(AIUDF) and Congress wanted to
share power in 2006 and 2011. I prevented that. Now Congress and Ajmal
have a tacit and secret alliance (in
these polls). They are not announcing
it for fear of losing votes of people
of Indian origin. That is why they are
not making it transparent. But it has
already been done.
LONG-PENDING DEAL
First discussed
in 2008, PM
Modi revived
the deal last year with a
Make in India clause
SYMBOL OF STRENGTH
Manu.Pubby@timesgroup.com
Likely Allies?
We consider AGP and
others as comrades in
the fight against
Congress and AIUDF
New Target is
to Insource
Tech Projects
We believe strongly in
capital efficiency and
strong unit economics. Right now its imperative. Not always.
Eg when capital is
free and easy
Tech Buzz
Right on Target?
ANNUAL
TECH SPEND
1 billion Target
$1 billion Lowes
$
Target has
multi-milliondollar outsourcing
contracts with TCS
and Infosys
of Indian IT industry
IT industry is expected
to record its slowest
growth since the
recession of 2008-09
Anirban.Sen@timesgroup.com
Quick Byte
ANIRBAN BORA
200,000
iMessages handled by
Apple per second,
according to the co.
An App to
Fetch! Your
Dogs Breed
The future of
banking is digital,
says Brett King,
the founder of Moven, a downloadable bank that gives customers
real-time updates on spending partners. In an exclusive interview with
ETs Anirban Sen, he talks about
Movens plans and says HSBC will be
the first global victim of the technological disruption. Edited excerpts:
Q&A
Its a much
stronger model
to build that core
capability as a Lowes
employee than an outsourced one
PAUL RAMSAY
Chief Information Officer, Lowes
Jargon Buster
Granular Data
Data thats detailed in the
lowest level possible to
form a target set is called
granular data. Just like
grains of sand can fill any
container, granular data
can be compiled by data
scientists and analysts in
the way they want, to
meet their needs.
FUTURE OF BANKING
Globe Trotter
Women Coders
have it Tough,
says Research
SPINNING PROFITS
Aditi.Shrivastava1
@timesgroup.com
5,000
Merchants
its targeting
by the end of
the year
100 crore
Monthly gross
merchandise sales co
expects sellers to reach
in the next few months
Payment co to launch
a new section on its
app and website
COLORADO A new
research report by Cal
Poly and North Carolina State University shows
how women programmers are
treated on GitHub, the main
place where open source projects are stored and worked on.
They found that when a woman
programmer made a contribution to an open source project,
that work was more likely to be
accepted by their programming
peers than contributions by men
as long as those judging the
work didnt know the programmer was a woman. If they did
know the programmer was a
woman, the work was more
likely to be rejected. BI
10 billion
GMV target by
December 2016
Microsoft introduced a
new app that anyone
with a dog should play
with because its a lot of
fun. Its called Fetch!
and is available for
iPhones and on the web.
It uses AI techniques to
classify images of realworld dogs into breeds.
On the web, users can
upload a photo of a dog,
or you can take a picture of your pet using
your phones camera. If
you upload a picture of,
say, a Rhodesian ridgeback, Microsoft should
be able to confirm the
dogs breed. Its the latest in a line of fun, silly
apps released by Microsoft Gargage. BI
USING REVIEWS FOR RESEARCH % of users who use online reviews for product research
54%
58%
46%
37%
33%
32%
34%
34%
36%
35%
16-24
25-34
35-44
45-54
55-64
16-24
25-34
35-44
45-54
55-64
Source: Global Web Index Q4 2015; Base: Internet Users aged 16-64
Piggybank
A roundup of top funding deals of the day from the startup world
New Delhi: Mumbai-based AasaanJobs, which owns and operates online jobs portal AasaanJobs.com, has raised about
`. 35 crore from a consortium of
new and existing investors, including George Soros-backed
Aspada Investments and IDG
Venture Capital India.
The startup, which had raised
about $1.5 million from IDG
Ventures India and Kanwal
Rekhi-backed Inventus Capital
Partners in January 2015, will
use the proceeds from the Series-A round of funding to automate its online recruitment
marketplace and expand to
new cities, across the country.
Were looking to build our
technology platform further,
and expand to Bengaluru later
this year. Were also looking at
Kolkata, Hyderabad and Chennai, said Dinesh Goel, chief
executive of AasaanJobs.
Seeking Out
1.5
million Amount
AasaanJobs raised in
January 2015
4.2
$
billion Indias
recruitment market
18%-25% Annual
compounded growth
rate
160,000 Job
Edge-backed Naukri.
It will be exciting to see how
the team manages to mould a
workplace of the future by leveraging technology.
The unstructured nature of
recruitment as a space means
there is an opportunity for disruption, said Kartik Srivatsa,
managing partner of Aspada
Investments.
According to official figures,
Indias recruitment market is
estimated at $4.2 billion (about
`. 28,700 crore), and growing annually at a compounded rate of
between 18%-25%.
Recent government-led initiatives, such as Make In India
and skill development missions have been created to generate much-required employment and jobs generation.
AasaanJobs caters to both,
blue collar and white collar
candidates, as well as employers and recruitment agencies,
and claims to have about
160,000 job seekers currently on
its platform.
PREM KUMAR
Founder, SnapBizz
Business of Brands 7
WWW.ECONOMICTIMES.COM
Chains like AccorHotels, Marriott and Lemon Tree aim for savings on development and running costs and offer greater choice to guests by launching dual-branded properties
Divya.Sathyanarayanan
@timesgroup.com
If successful,
the model can
be replicated
in other cities
and similar
emerging markets
Rasul.Bailay
@timesgroup.com
AMIT SINGH
Co-founder, Shuttl
Increasingly, developers and operators are looking for ways to rationalise cost and create strong loyalty by appealing to a greater number of demand segments.
The
concept
helps to reduce
risk by reaching
The only
out to a broad
challenge
range of potential
with the
guests. Moreover,
dual-brand
it helps in saving
strategy is to
common costs like
keep the two
security, finance,
brands
administrative
distincive
costs, human reand remain
sources
and
true to their
brings in staff symarket
nergies, said Pasegments
tu Keswani, chairman of Lemon Tree Hotels, adding that it helps in bringing
Better Synergy
DUAL-BRANDED properties
contain separate entrances for
each brand but share backof-the-house operations and
amenities like pools
THIS ALSO creates strong loyalty by appealing to a greater
number of demand segments
8 Business of Brands
The shortlisted
candidates were
sent on a five-day
boot camp to
learn the basics of
entrepreneurship
The initiative is
part of Future
Groups larger
strategy to
resemble a startup
and reinvent itself
Sagar.Malviya
@timesgroup.com
another 40 brands.
We want to create a startup
entrepreneurial culture in the
organisation and most of the
selected employees are between 22 to 27 years old, which
brings in lot of energy into the
brands, said Kaustubh Sonalkar, chief people officer at Future Group.
Late last year, Biyani made
whistle-stop tours across most
of the 110 cities where the retail
chain has a presence, meeting
store managers and employees, encouraging them to bring
in fresh energy to complement
the new design and merchandise within the stores.
The renewed aggression has
been reflecting in numbers too,
with Future Consumers reporting 40% sales growth at `. 519
crore and Future Lifestyle posting 18% increase in net sales at
`. 857 crore, with a four-year
high recorded for same-store
sales growth.
2,300 crore
16%
ITCS GROWTH in
fragrances was 25%
even as consumer
spending declined 5%
Vini Cosmetics
(Fogg)
6.5%
10%
ITC
Park
Avenue
Writankar.Mukherjee
@timesgroup.com
Kolkata: ITC plans to expand its presence in fragrance business by foraying into
newer categories and premiumising its portfolio this year, buoyed by its rise to becoming the second largest player in the deodorant and body spray market.
The tobacco-to-hospitality
conglomerate has just forayed into perfume spray segment, having established its
presence in deodorant and
cologne spray segments
with its Engage brand.
We think fragrance is a category where there is huge
potential for consumption to
increase through adoption
by new consumers, said
Sandeep Kaul, chief executive (personal care business)
at ITC. The fragrance business, where margins are
high at 18%-20%, can also
help the company achieve
breakeven in its personal care business faster.
As per market tracker Nielsen, while the overall growth
in consumer spending on deodorants and body sprays declined to 5% in 2015, it went
up by 25% for ITC.
ITC has around 10% share
in deodorants as per Nielsen report for December,
with market leader Vini
Cosmetics Fogg at 16% and
No. 3 with Park Avenue at
6.5%. The overall market is
`. 2,300 crore.
Kaul said the slowdown in
DIGITAL PUSH
ETMarkets
Beating Volatility
WWW.ETMARKETS.COM
MONEY
MATTERS
Uncertaintys
Behind Us,
Expect Stability
Bank of Barodas MD
PS Jayakumar on cleaning
up NPA mess XX PAGE 11
THE DELAY in delivery sparked a tumble in airlines stock with its market cap falling 45% from a high of `50,297 cr
Anirban.Chowdhury@timesgroup.com
Nagaraj Shetti
TECHNICAL RESEARCH
ANALYST, HDFC
SECURITIES
STREET AHEAD
Dia.Rekhi@timesgroup.com
PRE-BUDGET QUIZ
Participate in the quiz from
February 11 to 17 to win daily
vouchers worth `1,000
Two lucky winners will receive
an invite each to the
ET Markets Pre-Budget Meet on
February 19, Friday
Nikhil Zachariah
878.5
777.5
1000
800
600
Chandan
Taparia
DERIVATIVES &
TECHNICAL ANALYST,
ANANDRATHI
Ashu Bagri
AVP - TECHNICAL,
SBICAP SECURITIES
emerging markets.
Last week, the benchmark indices posted their biggest weekly fall
of over 6% in over six years following foreign institutional selling to
the tune of almost `2,400 crore.
Uncertainty about US Feds policy
stance prompted FIIs to step up selling. So far in February, these investors have net sold shares worth
`3,000 crore. They sold close to
`11,400 crore in January. The negative news flow refuses to die
down, said Vivek Mahajan, head
of research at Aditya Birla Money.
Investors have already taken big
hits and as a result there will be a
cautious flair in the market.
LIGHTING UP
SIGNS OF RECOVERY
Large Caps
Look Cheap,
but Further
Fall Possible
Biswajit.Baruah@timesgroup.com
ET MARKETS
FRIDAYS WINNER
If the Nifty fails to hold immediate support of 6,868, then it may even fall down towards
the next support of 6,666 say technical analysts. However, shorting around the current
levels may not be a good idea and a short-term reversal may be in the offing, they say.
Company likely to
approach the US FDA
for a re-inspection of
its Halol site by the
first quarter of FY 17
Our Bureau
Sun Pharma
1250
914.5
1050
848.4
850
650
TURNING AROUND
Operational
integration
with Ranbaxy,
expansion of margins
led by Taro hint at
recovery taking shape
Sharing further insight on the
same compound, he noted, I think
we expect a fairly benign side effect
profile if what weve seen in Phase II
also is reproduced in Phase III and a
once every three-month dosing. So, I
believe that if I see the overall package that we will be able to submit and
also with doctors, we should be able
to aspire to get a sensible market
share, Shanghvi added.
We would love to hear from you on what you think about our
new Markets pages. Share your feedback on ET Markets at
et.markets@timesgroup.com
Beijing: Chinas central bank governor said theres no basis for continued depreciation of the yuan because the balance of payments is
good, capital outflows are normal
and the exchange rate is basically
stable against a basket of currencies, according to an interview published Saturday in Caixin magazine.
Zhou Xiaochuan dismissed speculation that China plans to tighten
capital controls and said theres no
need to worry about a short-term decline in foreign-exchange reserves,
adding that the country has ample
holdings for payments and to defend
ANIRBAN BORA
GOVERNORS ASSURANCE No need to worry about short-term decline in forex reserves, country has ample holdings for payments and to defend stability
For T&C refer to http://bit.ly/1Rl7yJG
SMS ETM<space>
A/B/C/D<space> Your name
to 58888 before 5 PM today
to stand a chance to win your
invite to the exclusive evening.
1200
PRE-BUDGET MEET
HOW TO PLAY
1400
TECHNICAL CALLS
ET MARKETS
QUESTION
How many new smart
cities were proposed in
the 2014-15 Budget?
A) 700
B) 100
C) 50
D) 200
InterGlobe Aviation
ANIRBAN BORA
Gadkari to
Showcase
Reforms,
Jobs Push
weaken further.
Shen said Zhous reference to the
13th Five-Year plan, which starts
this year and ends in 2020, points to
the time horizon for China to move
toward exchange-rate policy reforms. China has no incentive to depreciate the currency to boost net
exports, and theres no direct link
between the nations gross domestic
product and its exchange rate, Zhou
said in the interview.
Capital outflows need not be capital flight, and tighter controls would
be hard to implement because of the
size of global trade, the movement
of people and the number of
Chinese living abroad, Caixin quoted him as saying.
What
Britannia Industries
Share Price on BSE (`)
3200
2700
2568.9
2033.7
CALCULUS
2200
1700
REAPING BENEFITS
Ashutosh.Shyam@timesgroup.com
Religare Institutional
Research has maintained
its buy rating on Britannia
Industries with a target
price of`3,650 citing the
companys steady results
for the quarter ended
December. The brokerage
said it remained optimistic
about the companys ability
to deliver industry-leading
earnings growth. It said
valuations at 30.6x/24.1x
FY17E/FY18E EPS were attractive. Britannia Industries
declined 2.49% to `2,571.00
on Friday.
In Drivers Seat
JLRs Volume Growth
Ashutosh.Shyam@timesgroup.com
Smallcap Mantra
Sanghvi Movers
296
-17.17
408/221
9.5/2.65
FY16
FY17
Jaguar
27
73
Land Rover
0.1
-1
JLR Total
14
China JV
(units)
38000
66000
JLR Total
with
China JV
11
18
(Figures in %)
Ram.Sahgal@timesgroup.com
Tech Picks
SHUBHAM AGARWAL
Head - Quantitative Research
LT
LT broke down from a formation of a Flag and remains weak with long-term support far away.
LAST CLOSE X `1,050
IGL
IGL has been a relative out-performer and not
correlated with the ongoing downtrend of Nifty.
STOP LOSS X ` 498
HINDALCO
Blended realisations
VOLUME GROWTH
3QFY16
3QFY16
YoY (%)
3,349
3,734
-10.3
979
965
1.5
490
597
-17.9
Freight costs
713
783
-9
Other costs
745
627
18.9
Cement EBITDA
199
591
-66.3
3,150
3,143
0.2
Cement costs
Note: Figures in ` per tonne Source: Company, HDFC Sec Inst Research
575
50
PIDILITIND
LAST CLOSE X ` 583
BUY
TARGET
`
650
R PRASAD
F&O Strategy
BHAVIN
B
H AV
HA
VIIN
N DE
D
DESAI
ES
SA
A
AI
Head
H
He
Hea
ad
d ooff De
D
Derivative
eriivva
atiive R
Research
eseearch
TARGET ` 5500
Fx Technical
KISHORE NARNE
Head Currency & Commodities
CMP
68.38
TARGET
68.00
STOP LOSS
With slowdown in
rural construction
activities due
to low growth
in rural income,
the companys
cement volume
fell by 2.4% in a
year-to-date
It operates at 75%
utilisation rate as
against
80-82%
in FY15
68.82
TRADE: The pair faces stiff resistance at 68.56 68.65 zone and failure
to breach the same could result in short-term correction. Selling the pair
near 68.55 is advised.
RESISTANCE
SUPPORT
68.56
68.00
68.65
67.75
68.80
67.50
EUR/USD STATUS: The pair looks to continue its northward move for
the fourth straight week!
CMP
1.1242
TARGET
1.1410
STOP LOSS
1.1035
TARGET
`
TARGET
Breakout from a consolidation with rising volumes indicates strong directional move.
Commodity Calls
Rajesh.Naidu@timesgroup.com
BUY
RESISTANCE
SUPPORT
900
SELL
TARGET
`
SELL
OPTION STRATEGY:
STRONG OUTLOOK Hyderabad cos valuation looks attractive over a 2-3 year time
frame given cost efficiencies, capacity addition & hopes of higher cement usage
MIDCAP MANTRA
1.132
1.137
1.1410
1.160
1.104
1.060
AMIT SAJEJA,
AVP Commodities
COMMODITY
EXCHANGE
TRADE
Gold (April)
MCX
Silver (March)
MCX
Copper (Feb)
MCX
RM Seed (Apr)
NCDEX
Street Signs
Top 10 Cos Lose `1.83 lakh crore in M-cap
FINANCIALS
VALUATION
NEW DELHI The heavy selloff last week took a toll on the countrys top
10 most valued companies as they shaved off over `1.83 lakh crore from
their combined market valuation. TCS market capitalisation went down by
`39,280.4 crore to `4,38,715.7 crore, taking the hardest hit. The valuation
of ONGC nosedived `22,586.5 crore to `1,65,591.5 crore and that of RIL
tumbled `21,381.6 crore to `2,93,608.7 crore. Infosys plunged `21,005.5
crore to `2,48,873.9 crore and HDFC Bank took a hit of `20,979.2 crore at
`2,45,877.27 crore. Last week, markets saw massive selling, with both the
key indices recording their biggest weekly fall since July 2009. Sensex fell
1,631 points, or 6.62%, and Nifty was down 508.15 points, or 6.78%.
National Pension System (NPS) helps you to save tax in several ways. There are only seven NPS fund managers at present and the
table below compares their performance. The data has been provided exclusively to ET.
NPS Scorecard
TIER I: Equity Plans
Assets
(` cr)
Assets
(` cr)
NAV
HDFC Pension
12.76
-0.56
2.33
3.56
54.6
17.17
-0.87
2.22
3.49
154.4
35.2
Kotak Pension
16.95
-0.86
2.15
3.92
-19.04
82.8
LIC Pension
13.15
-0.85
2.19
-17.90
31.6
16.60
-0.98
2.07
-15.86
-18.51
437.1
18.45
-0.81
2.26
3.45
653.6
-15.55
-17.18
42.8
16.96
-0.42
2.63
4.16
44.5
-16.39
-19.87
-0.23
2.79
4.69
NAV
HDFC Pension
12.77
-10.82
-16.59
-19.16
73.0
17.83
-10.82
-16.28
-18.88
181.7
Kotak Pension
16.55
-9.58
-15.15
-17.55
LIC Pension
11.92
-10.88
-16.41
16.97
-9.78
-15.32
SBI Pension
15.17
-10.28
17.57
-10.24
-10.79
3-Month
Fund
Fund
Nifty 50 Index
Reliance Securities has maintained its hold recommendation on Wipro with a target
price of `575. The brokerage
said the HealthPlan Services
acquisition is expected to
augment Wipros healthcare
capabilities. It expects the
acquisition to be earnings
dilutive by 3.7% for the fiscal
year 2017 and 2.1% for fiscal
year 2018. It expects
Wipros EPS togrow at 4%.
Wipro rose 0.47% to
` 518.55 on Friday.
CMP (`)
1-M Return (%)
52-week H/L
FY17E PE 5Y AVG
to Buy, Sell
and Hold
3700
6-Month
1-Year
ANIRBAN
3-Month
6-Month
1-Year
Fund
Returns(%)
NAV
3-Month
6-Month
1-Year
Assets
(` cr)
HDFC Pension
13.18
0.73
3.78
8.18
51.7
20.23
0.69
3.84
9.00
138.8
38.4
Kotak Pension
20.12
0.71
3.69
8.04
29.7
3.45
46.3
LIC Pension
13.26
0.72
3.83
8.76
55.7
3.43
32.8
18.23
0.61
3.78
7.68
24.1
20.33
0.65
3.56
7.50
345.9
18.45
0.79
3.75
7.79
30.4
1.15
4.03
5.87
Returns as on Feb 12, 2016. Assets as on Dec 31, 2015 Source: Value Research
Money Matters 11
WWW.ECONOMICTIMES.COM
PS JAYAKUMAR
(Indexed to 100)
97.8
100
89.8
NOV 13, 2015
Wockhardt Tanks
on Poor Q3 Show
Wockhardts third quarter results disappointed
investors since higher research and development
expenditure and falling
business in the US market
pulled down profits compared with the previous
years December quarter.
The stock lost 13% on
Friday widening the fall
for the month further.
The company continued
to report a strong momentum in filing of patents and receiving drug
approvals. It was granted
20 patents during the
quarter taking the total
count to 431.
Jubilant Skids 9% as
Profit, Margin Hit
Jubilant FoodWorks
Jubilant FoodWorks (Indexed to 100)
S&P BSE Sensex
89.8
100
71.2
NOV 13, 2015
53%
Babar.Zaidi@timesgroup.com
SEEKING APPROVAL
We have asked
the govt for
long-term
compensation with respect to stock option
plans for senior employees. The board approved it on Saturday.
that we own.
How would you go ahead with funding projects with so much stress in
the economy?
The decision to fund is not related to
a projects NPA status. What we are
ELSS Investors are Taking a Big Risk by Not Taking the SIP Route
ET in the Classroom
SUGATA GHOSH
FILE PHOTO
RBI Pushes
Jaitley Towards
Hard Choices
ANIRBAN BORA
EXCLUSIVE Q&A
Power Play
5. Is there a delivery?
There is no delivery, only
the difference in price is
exchanged in rupees.
Rush of March
Year
Total
Inflows
(`cr)
Jan-Mar
Inflows
(`cr)
% of
Total
Inflows#
2012-13
2,626
1,311
49.93
2013-14
2,661
1,382
51.94
2014-15
8,343
3,932
47.13
2015-16*
6,613
1,040
15.73
12 Commodities Plus
VIKAS KHEMANI
19 Million
INDIAS ESTIMATED
EXPORT OF ROSE STEMS
IN FEBRUARY, 2016
Ethanol Eating
into Corn Meant
for Humans
Ethanol is traditionally used to reduce
greenhouse gas
emissions by 4050% compared to gasoline.
Emissions of particulate matter,
carbon monoxide, air toxic and
volatile organic compounds are
reduced when ethanol is blended with gasoline. In 1982, only a
handful of small ethanol plants
produced 350 million gallons of
ethanol. Now, 274 million bushels of Illinois corn are used each
year to produce more ethanol.
That means, nearly, a billion
people may go hungry as thats
enough food to feed 412 million
people for an entire year. This is
to meet the ethanol target set
by the state. Last year, India
doubled its target of blending
ethanol with gasoline to 10% as
the government tries to promote cleaner-burning fuel to
check pollution.
Brazils Sugar
Producers Benefit
from Weak Real
RIO DE JANEIRO Brazils
ON BUDGET
Bloomberg
on
Banks Stand
Standard Chartered Bank
which previously called
for one rate hike in March
followed by a cut in Decemberhas removed its
rate rise forecast entirely
An Ounce of
Gold can Buy
79 oz of Silver
Golds surge to the highest in a year
means an ounce of the metal buys 79
ounces of silver, near the high of 84.5
ounces in 2008 during the global financial crisis. As investors fret about
financial market turmoil, a potential recession and the health of bank balance
sheets, they have turned to gold as a
haven. Silver has not performed so well
as about half of the demand comes
from industrial fabrication, which is
threatened by a slowing economy.
80
70
40
Gold-Silver Ratio
2008
2009
2010
Equinomics
2014
2015
Apr
Jan
Oct
Apr
90
July
WPI (2014-100)
2016
Investors Bet
on Edible Oil
as Prices Soar
Production fall in Malaysia pushing up rates
REASONS
GLOBAL PRODUCTION
SOYA RATES
Farmers in
Argentina
have not been releasing soyabeans as
quickly as investors
had expected, which
pushed up oil prices
`. 2.45 or 0.40% to `. 610.70 per 10 kg
in 11,650 lots.
Analysts said that farmers in
Argentina, the top soya oil exporter in the world, has not been
releasing soybeans as quickly as
investors had expected, which
has pushed up prices of the oil.
Sunflower oil production in
Ukraine has declined, which has
pushed up prices of the oil in
global markets. According to
media reports, in 2015-16, large
and medium-sized enterprises
of the Russian Federation produced 1.47 million tonnes of sunflower oil.
50
G CHOKKALINGAM
Agriwatch Index
95
60
2011
2012
2013
2014
30
2015
Bloomberg
Stock Queries
100
Jan
Oct
DISRUPTIVE INNOVATIONS
No Takers for
Egypt GASC
Wheat Tender
worlds largest wheat
importer, received
only four offers at an
international tender to
buy the grain on Saturday as suppliers remained reluctant to sell to the
state grain buyer GASC following
concern about limits on imports of
wheat containing the ergot fungus.
105
July
Conference 2016
Apr
EDELWEISS INVESTOR
Jan
Tighter domestic liquidity and delay in investment activity may delay Indias recovery
INDEX
Q&A
Is it the right time to hold on to bank stocks at a time when PSU banks are under a lot
of stress because of economic slowdown? Our expert chalks out next course of action
trading at over 27 times its
FY17 estimated earnings. It
grew its profits at a very high
impressive rate in the last
three years, but it would be
difficult to maintain growth in
future due to base effect and
economic slowdown.
ed earnings which is quite attractive for a technology company with a strong balance
sheet. Hold Premier Explosives for the long term as it has
significant growth potential in
explosives business as the coal
mining activities are expected
to double in the next 4 years.
13
STATEMENT OF ACCOUNT The boards of banks will be professionalised and the government plans to
trim its stake in public sector banks to 50-52%, says finance minister at the Make in India week
ON REFORMS
Short Takes
Union finance minister Arun Jaitley takes stock of the Make in India event on Sunday
BHARAT CHANDA
Jochelle.Mendonca@timesgroup.com
(From left) CNNs Richard Quest moderates a panel discussion on Made in Asia with participants Aditya Birla group chairman Kumar Mangalam
Birla, Mahindra group chairman Anand Mahindra, GE South Asia CEO Banmali Agrawala and Emerson Electric Co president Edward L Monser
Megha.Mandavia@timesgroup.com
Plans `100cr
Fund for R&D
at Universities
The Connection
PTI
BHARAT CHANDA
If you look at the sum total of all measures... you will see
the government has moved in one single direction. It has
not erred in reversing that direction
Maha in Big
Push for
Electronics
ON MANUFACTURING
FILE PHOTO
ON BUDGET
We want spending on
infrastructure to go up. The
oil money should be spent
on infrastructure. Millions
of jobs will be created
Aluminium is a new industry. Steel industry has 50-60 players. Aluminium has
three Vedanta, Hindalco and Nalco. I
want to make the government realise how
important aluminium is. Central American
countries have flourished because of
natural resource exploration. Largest
employment comes from natural
resources. You have to find in India and
make in India.
WWW.ECONOMICTIMES.COM *
TOI PHOTO
Maharashtra
government
which has, for the first time,
organised an event of such
proportion for PM Narendra
Modis Make In India campaign. Prime Minister Narendra
Modi spoke to the chief minister about the fire and enquired as to what caused it, said
government officials.
Interestingly, the fire occurred just an hour after Fadnavis, Thackeray and others left
TOI
Our Bureau
Naveen Patnaik
Fadnavis, who had invited delegates to the Maharashtra Rajani programme, stayed put till
the fire was doused, which took an hour. Government officials have indicated that a shortcircuit below the stage could
be the primary cause of fire.
While speaking to reporters,
Fadnavis said, It was an unfortunate incident, I have asked for a high-level inquiry to
fix the responsibility. We will
do it with a proper authority.
The one good thing is that there was no injury to anyone.
He added a fire audit was done
four days before the event and
also disaster preparedness was
done which also helped. The fire was brought under control
soon. Its too early to speculate
on the cause, he said .
He said that there would be
no change in the Make in India programme. However, the
Maharashtra
government
was pilloried by the opposition. The NCP claimed that the
fire had embarrassed the state
in front of the whole world.
16 Companies
Pop This!
Dinesh Thakur rattled generic
drug industry in India through
his expose of malpractices in
Ranbaxy
He is considering
plans to set up a
patient advocacy
group
Dinesh Thakur
dards.
Since November 2015, the USFDA
has issued warning letters to leading Indian drugmakers Sun, Dr
Reddys and Cadila for not complying with good manufacturing practices. Though warning letters are
not uncommon in the drug business, observations on data integri-
Government of Bihar
turk dks rax D;k djuk tsy tkuk vkSj ikuh Hkjuk
TOI PHOTO
BUSINESS PLANS
Fuelling Trouble
State-run oil marketing cos
have told the govt that the
target shortfall was
because of factors
beyond their control
since the oil ministry
had placed restrictions on
appointing new dealers
A restriction on appointing
new petrol pump
dealers mean state
firms cant quickly
expand, especially
in the inadequatelyserved rural regions
Slower appointment of
cooking gas distributors
is a hurdle in govts
goal of taking clean
fuel to more homes
quickly, especially in
the rural and underdeveloped
regions of the country
criteria and targets set at the beginning of each year in their respective memorandum of understanding (MOU) signed with
the government. This practice
of several years is aimed at ensuring accountability of the management and boosting efficiency at state firms.
Different weightage is assigned to evaluation criteria,
which for oil marketing firms
include financial and physical
performance, project management, social responsibility, research and development.
According to the agreement
between Indian Oil Corp and the
oil ministry for 2015-16, the targets for the company included
commissioning 350-450 rural filling stations, with poor rating
assigned for meeting the lower
end of the band and excellent
for the top end.
UP Protests AAI
Move to Term 3
State Airfield
Projects Unviable
MihirMishra@timesgroup.com
Companies 17
WWW.ECONOMICTIMES.COM
menting this.
This was done to encourage one to expand their knowledge across functions, businesses and geographies and
not just gather narrow sliver
of expertise, said Santrupt
Misra, director HR and CEO
of carbon black business at
Aditya Birla Group.
So promotions as the head of
profit centre will happen only
to those who have worked in
Those who
two functions
have
and two busiworked in 2
nesses across
and more
two geographiunrelated
es, he said.
businesses
This January
will have a
onwards the
higher
AV Birla group
chance of
has also implebagging
mented a hiplum posts,
ring freeze for
said Birla
senior managerial
posts
from outside. All firms under the business house were
asked to roll out senior managerial positions only to
employees of the company.
Chasing Talent
$40-b
metals-toecomm
conglomerate
introduced
2x2x2 policy
last year and
businesses
have already
started
implementing it
the chairman in 2013, but various businesses were alerted in 2015 and given a year to
build their talent pipeline.
About a year back, ET had
reported that every year the
group recruits around 220
people at the senior levels,
starting with deputy general
managers and about 1,000
such hires have been made in
the last five years.
Mumbai: The Supreme Court has dismissed a Special Leave Petition (SLP) challenging the bail granted to UK-based businessman Nazir Mussa by the Bombay High Co-
urt in a matter related to the dispute over 13acre prime property in Mumbai, said a statement issued by Mussa.
The case relates to a long-standing corporate war between Arnool Jamal, a Canadian businessman based out of Kenya and Indian businessman Shobhit Rajan over a 13-
acre land parcel earlier owned by Parke Davis on which a massive commercial property Logitech Park was built .
Mussa argued before the high court that
Rajan had filed the case against him apparently to hide his own misdeeds and fraud
to acquire control of the prime property.
18 Companies
Short Takes
Sterlite Inks Deal with
SEEKING FRESH INVESTMENTS Telecom ministry has proposed a 10-year tax holiday for mega projects as part of
suggestions for upcoming Budget; it has also proposed excise duty exemption for a range of electronic equipment
11%
more expensive in
last years Budget
It resulted
in local
production
value rising
95%
on-year to
`18,000 cr
and
volumes
soaring to
100 m
units in
2015
60%
because of
the duty
structure
changes
Gulveen.Aulakh@timesgroup.com
New Delhi: The telecom ministry has proposed a 10-year tax holiday for mega projects in the sector as part of its recommendations for the upcoming Union Budget
that are aimed at attracting fresh investments for the Make in India programme.
The ministry also suggested excise duty
exemption for a range of electronic equipment, which would help lead to the creation of a much-needed manufacturing
ecosystem in the country.
According to senior ministry officials,
a 10-year tax holiday in a block of 15 years
may draw fresh investments worth over
$1 billion (.`6,800 crore) over three years.
Such proposals would be exempt from
MAT (minimum alternate tax) as well for
the same time frame, an official said. Extending the differential excise duty thats
levied on mobile phones to electronic equipment such as network switches, routers
and modems has also been proposed, the
official added.
After the government made mobile phone imports 11% more expensive in last ye-
AMRENDRA JHA
Paolo Colella
Deepali.Gupta@timesgroup.com
Mumbai: More 4G devices are coming to the market than 3G devices, suggesting that customers
may leapfrog from 2G to 4G technology, said Sunil Lalvani, president, Qualcomm India.
The company has carrier aggregation support technology
that it is looking to supply to mobile makers like Micromax and
Samsung, he said. Reliance Jio,
the Mukesh Ambani company
that is yet to commercially
launch services, is trying to aggregate airwaves in the 800MHz,
1800MHz and 2300MHz bands,
but most phones don't support it.
The increase in 4G shipments
has resulted in a narrowing of the
price difference between 3G and
4G devices, leading customers to
buy 4G-enabled mobile handsets
even though there are limited services on that platform.
You get a good 4G phone at sub
.`5,000. 4G devices in India outsold 3G devices and one key catalyst is the 4G delta with 3G is lowering, Lalvani told ET. Phones in the mid-tier segment,
which have advanced features
but aren't priced for the luxury
NIIT Tech
to Focus on
Digital
Services
Priyanka.Sangani
@timesgroup.com
Economy 19
WWW.ECONOMICTIMES.COM
Short Takes
First Policy for Capital
TAKING STOCK
Wake-up Call
Issue
Govt pledge
`70,000 crore
Largest Loss
Bank of Baroda
In the future
`3,342 crore
Jaitley says
Volume and extent of
bad loans should not be
exaggerated so as to lead
to a panic
Former Presidents and Prime Ministers rarely speak, but when they
do, the nation should listen to them
with rapt attention. They represent
the wisdom of the nation.
They are expected to be non-partisan, render constructive advice and
at times send a powerful message
even to their own political party to
act in broader national interest. Having consistently held Dr. Manmohan Singh, the former Prime Minister in high respect, I expect the
same from him.
I have read his interview in the latest edition of India Today, particularly his concern that the Prime
Minister and the Government are
not reaching out to the opposition.
He feels that the Government is not
doing enough to move up the countrys economy.
I am sure if Dr. Singh would dispassionately analyse the present
Government, he would really realize the India has a Government where the Prime Minister has the last
word, where natural resources are
allocated without corruption through transparent process, where industrialists no longer visit North
Block to push files/decisions, where environmental clearances are dealt with in routine and not stalled on
sadistic or corrupt considerations.
Has there been any change in the
work culture of the Government?
During the UPA Government, the
public sector banks were hardly
run by their own Boards or even by
North Block. They were run from
FILE PHOTO
24, Akbar Road. In Power and Infrastructure areas, sectoral challenges were not addressed during
the UPA. It is the present Government which is clearing up these accumulated challenges. Many stalled infrastructure projects have
now started moving. Indias journey is from policy-paralysis to a
global bright-spot, as the fastest
growing economy moves on notwithstanding major challenges.
On consultations with the opposition, almost all political parties except the Congress, support the GST.
The Congress has done a volte face.
Both the Parliamentary Affairs Minister and myself have discussed
the GST with every senior Congress
leader in Parliament. Is the Congress position on Constitutional
cap not motivated by real politics?
The economist in Dr. Singh should
advice his party that tariff are not
provided for in the Constitution.
This is what nation expects from
the senior leaders and statesmen
like former Prime Ministers.
REACHING OUT Forum will seek to informally resolve issues, other than those related to tariffs, to cut long-drawn regulatory and legal disputes
Kirtika.Suneja
@timesgroup.com
ested party).
However, since the mechanism
is sought to be voluntary and doesnt mandate the other country
to resolve the issue, India has also
mooted the idea of maintaining
records so that all countries are
aware of the non-responders. The
proposal also talks of third-party
facilitators in case theres no resolution.
The mechanism also helps because instead of direct bilaterals,
it lets other countries with similar grievances to join in based on
WIDE ANGLE
Not very many Indians may have seen tulips before rows of
them became the setting for an extramarital celluloid Silsila
over three decades ago. However, judging by the popularity
of the Keukenhof gardens in Holland for Indian tourists
ever since, the flower has a pretty special place in Indian
hearts now. Its star billing at this years display of winter
blooms in Rashtrapati Bhavans Mughal Gardens is entirely
understandable therefore. After all, Indians are now quite
used to seeing the usual roses, dahlias and chrysanthemums, not to mention the humbler annuals and craved something new. So, the initiative of the late former First Lady
Usha Narayanan already a fan of the flower to plant
tulip bulbs gifted by a visiting Dutch dignitary in the presidents garden must be appreciated.
That tulips are a real tourist magnet is amply evident from
the hordes that throng to see the Keukenhof s seven million
blooms and Ottawas one million every year. Rashtrapati Bhavans 5,000 are modest by comparison, but maybe another
city or organisation could contemplate a grander display in
the future. Since tulips actually went westwards from Persia
around the same time they came east to India with the Mughals via Central Asia, their reappearance in the Mughal
Gardens in New Delhi is absolutely apt!
India must start working to reverse the plunder of our national artistic heritage
would have channelled billions of dollars worth of artefacts over three decades. There are several such operators in North America, Europe and
the Asia-Pacific.
These are not small-scale deals
done in shady back alleys. Many of
the stolen pieces are proudly displayed in museums and galleries around
Sanjeev Sanyal
the world. Meanwhile, the stealing
of artefacts, especially temple sculphe organised theft of the co- tures, carries on unabated despite
untrys artistic heritage is the fact that Subhash Kapoor is in
perhaps the biggest scand- jail in Chennai awaiting trail.
The good news is that the authorial of modern India and it
goes on virtually unnotic- ties have become more aware of the
ed. It is not merely about the sheer issue. The few high-profile investigascale of plunder but the erosion of tions have made museums and private collectors in the West more careful
the very soul of our civilisation.
According to experts, around about making purchases. Private ci20,000 idols, sculptures and other an- tizen initiatives like the India Pride Rest in one piece: A stolen sandstone Bodhisattva sculpture from 11th-12th c
tiquities have been stolen and sold in Project have also played an importa- Bihar-Bengal recovered by the US customs in January 2014
foreign countries since 1980. This ex- nt role in tracking down stolen goods
Third, a clear framework of propcludes colonial-era loot. The estima- and spreading awareness. This new ir return has been reportedly hamted market value of these antiquities activism has already led to the reco- pered for years because of delays in erty rights needs to be established
paperwork on the Indian side. The and enforced to make it possible for
is over $10 billion, although many of very of a few idols.
On his state visit to India in Septe- Indian authorities need to step up enforcement agencies to trace and
these artefacts are priceless from a
claim back antiquities. This is essencultural perspective. Even iconic na- mber 2015, Australian Prime Minis- their game.
Second, the trade in stolen antiqu- tial for countering criminal gangs
tional monuments such as the Jain ter Tony Abbott handed over an 11thtemples of Mt Abu have not been spa- century Chola Nataraja to Prime Mi- ities is a sophisticated international that have mastered the art of creatred, many of the idols there being nister Narendra Modi. A month la- operation and the local police cons- ing a paper trail for their stolen items
ter, German Chancellor Angela Mer- table cannot be expected to effective- and even getting well-known schomodern replicas.
kel handed back a 10th-century idol ly fight against it. It requires specia- lars to vouch for them.
The Gods Must Be Crazy
of Durga stolen from Kashmir two list knowledge that can only be expA National Antiquities Register
can be created that allows any owner
It is important to note that the syste- decades ago. But these are no more ected from a dedicated team.
to register items and makes it easy to
matic plunder of national treasures than a drop in the bucket. Here are a
look up the ownership history. It shois not due to petty local thieves, but few simple things that need to be do- Gods Own Country
Italy has had a Carabinieri Art Squ- uld be simple enough to allow me to
part of a well-oiled international net- ne urgently to turn the tide.
First of all, let us bring back the ad that has so far recovered half-a- register my great-grandfathers old
work run by a handful of criminal
organisations. They identify specific hundreds of idols and sculptures million pieces. It is now training si- watch. The government can easily
pieces, buy off officials to smuggle that have already been identified and milar teams from Greece, Cambodia get this going by recording items
across borders, use well-known auct- seized by law enforcement agencies and other countries. In India, the on- from national monuments as well as
ion houses and even have prominent around the world. The US authori- ly example of a specialist team is Ta- those from museums. This will have
ties alone have around 700 pieces mil Nadus Idol Squad, which has the added benefit of forcing an audit
art experts on their payrolls.
Raids in New York on the wareho- stored in their vaults that they can had some notable successes despite of our museums and archaeology deuses of a single Madison Avenue art hand over immediately. An additio- pitifully little resources. This needs partment warehouses.
Alot of work needs to be done to reto be replicated in all states and coordealer Subhash Kapoor unearthed nal 1,200 pieces are being processed.
There are many artefacts similar- dinated at the national level.
verse the plunder of our national he$107 million worth of antiquities,
Unlike some other branches of ritage. However, the three above memostly stolen from India. He alone ly ready for return from Europe. Thecriminal investigation, this field can asures would be a good way to start.
benefit enormously from active par- For once, we are likely to get a lot of
ticipation of scholars, history enthu- international support because the
A National Antiquities Register, which allows any owner siasts and temple devotees. Indeed, Islamic State (IS) uses the same crimsuccessful investigations ha- inal networks to raise money by selto register items and makes it easy to look up ownership several
ve depended on critical inputs from ling antiquities from Syria and Iraq.
history, should allow one to register a family heirloom
There is not a moment to be lost.
private citizens.
Bell Curves
R Prasad
Disaster Count
A new UN analysis has found that a total of 98.6 million people
were affected by disasters in 2015 the hottest year on record.
Moreover, climate often aided by a strong El Nio phenomenon
was a factor in 92% of those events. Heres a snapshot
If you press
me to say why I
loved him, I can
say no more than
because he was
he, and I was I.
Michel de Montaigne
Philosopher
Disasters
in 2015
346
People affected
22,773
dead
98.6m
affected
(in million)
(in $ billion)
Top 5 countries
Economic damage
US
24.88
China
13.66
Nepal
5.17
UK
3.6
India
3.3
Click!
Citings
DEBT-GDP RATIO
OSHO
Why a Function
for Afzal Guru?
$66.5b
economic damage
Top 5 countries
Falling Over
Past Lives
Chat Room
20
Monetary
Design
ASHLEY KINDERGAN
In the old days, before the world was awash in capital with
nowhere to go, an announcement of monetary easing was
generally considered a good
thing, a sign that central bankers were on the job. Historically, in all but the most extreme
circumstances, lower interest
rates have tended to spur economic activity, with the contemporaneous effect of supporting risky assets.
But we are clearly living in
an extreme circumstance, and
after eight years of such announcements from central banks, its time to ask whether monetary policymakers are pushing on a string. The latest
example of such: the Bank of
Japans January 29 decision to
apply negative interest rates
to a small portion (4%) of commercial bank reserves.
Europes experience shows
that negative interest rates
arent terribly effective at stimulating domestic demand,
since commercial banks have
refrained from passing negative rates on to depositors and
customers, for regulatory reasons and to prevent capital
outflows. However, Japans policy is likely to encourage other countries to ease further.
Since the financial crisis, central bankers have been left almost entirely on their own to
stimulate growth, with politicians loath to commit to significant, long-term fiscal stimulus. But its becoming increasingly clear that central banks
cannot conjure up demand on
their own and that there are
diminishing returns to additional monetary easing.
From Are Central Banks Running
Out of Steam?
As Truthful as
David Headley
Apropos the edit Democracy
at Stake, Not Ishrat Jahan
(Feb 13), the BJPs new-found
saint, David Headley, has not
uttered a single word of truth
or done a legit act in his life.
Nor has he helped India by his
revelations on Pakistan hand
in the gory terror strikes. The
truth remains that Ishrat and
others were on a malevolent
mission. Of course, the mode
of elimination was not fair.
Having said that, if anyone is
involved in a terror act, instant just deserts must be meted
out. Avoid the legal rigmarole.
MUKUND KUMAR
Mumbai
Letters to the editor may be addressed to
editet@timesgroup.com
World View 21
WWW.ECONOMICTIMES.COM
Christchurch Hit
by 5.7 Magnitude
Quake, Cliffs
Collapse into Sea
WELLINGTON: A strong 5.7
magnitude earthquake
struck near Christchurch in
New Zealand on Sunday,
causing cliffs to collapse
into the sea but no major
damage to the city, which
was devastated by a 2011
quake which killed nearly
200 people. The epicentre
of Sundays quake on New
Zealands south island was
15km east of Christchurch
and at a shallow depth of
15km, said the countrys
seismological body
Geonet. Geonet said there
were more than 40 aftershocks. The quake came
eight days before the anniversary of the deadly 2011
quake that caused upwards of NZ$40 billion
($26.52 billion) of damage,
causing much of the city to
require a rebuild. Police
said there were no reports
of major damage or serious injuries, but people
were evacuated from several buildings and there
were reports of some liquefaction. The Christchurch City Council said cliffs
collapsed in several places,
spreading large clouds of
billowing dust across the
sea and hills. Its certainly
been a big shock for the
city, a set back in terms of
peoples confidence and
feeling of security, said
Christchurch mayor Lianne Dalziel. Reuters
The emergence of co-working spaces with low-cost memberships has become appealing to new startups,
individual entrepreneurs, consultants and others who want a flexible but professional work environment
Rob Lever
Amid the rapid expansion, some co-working spaces are focusing on scale, like New
York-based WeWork, which has 58 locations in the United States, Britain,
Netherlands and Israel. A broad network
enables participants to use multiple locations when they are in different parts of a
city or traveling.
WeWork last year announced it had
raised $400 million from investors, boosting its valuation to $10 billion, to fuel expansion in the US and abroad.
INDIAN-AMERICAN JUDGE
ON US SUPREME COURT?
Washington: Sri Srinivasan
could become the rst IndianAmerican to be on the bench
of the US Supreme Court after
conservative icon Justice
Antonin Scalias sudden death
gave rise to speculation that
President Barack Obama
may nominate the moderate
judge who enjoys impeccable
bipartisan support. Chandigarh-born Srikanth Sri
Srinivasan, 48, tops the list of prospective justice to
the countrys highest judicial body as Obama said he
plans to fulll his constitutional responsibilities to
nominate a successor to Scalia. Any list begins with
Sri Srinivasan, a member of the US Court of Appeals
for the District of Columbia Circuit a traditional
launching pad for Supreme Court nominees, the CNN
reported on Sunday. The moderate DC Circuit Court
of Appeals judge has already been labelled Obamas
Supreme Court nominee in waiting, by Jeffrey
Toobin, legal analyst for CNN and The New Yorker.
Srinivasan, whom Obama had rst nominated to
the post in 2012, was a high school basketball star in
Kansas before attending Stanford University, which
he graduated from in 1989. PTI
150,000 Antarctica
Penguins Die after
Iceberg Grounding
ANIRBAN BORA
QUICK
HITS
Crossword
9,189
5,793
Finland
5,746
Germany
4,514
Switzerland
4,048
Belgium
2,979
Luxembourg
2,956
Denmark
2,950
Turkey
Italy
Indrajit Hazra
Armchair On
America
6407
17,500
Norway
Netherlands
Shrapnel Flies on
American TV Too!
14,829
Austria
ideas that have driven many of the courts decisions were more the product of Scalias intellect
and politics than of the other conservative justices. Scalia wrote few of the divided courts 5-4
decisions, perhaps because the chief justices
were aware that Scalias lack of self-control in his
judgments made him unreliable in those cases.
One prominent exception was his majority decision in District of Columbia v. Heller, in which the
court ruled for the first time that the Second
Amendment granted an individual right to bear
arms. Scalia did say that that right was not absolute, and that certain weapons like assault rifles
could be banned, but the case still set the courts
fundamentalist approach to gun rights.
From abortion rights to marriage equality
and desegregation, Scalia opposed much of
the social and political progress of the late
20th century and this one. He wanted to overturn the Roe v. Wade decision on womens
rights to privacy, he dissented on the decision
that said anti-sodomy laws were unconstitutional, and he dissented on decisions that it
was unconstitutional to execute mentally disabled or teenage prisoners. He disapproved of
the Miranda decision that requires police to
read prisoners their rights. The New York Times
Sweden
AFP
Hungary
2,328
1,783
1,298
Iceland
1,004
France
1,001
In a heart-warming gesture, a
teenager in the US gifted owers
to over 800 girls in his school for
Valentines Day after saving money
by doing odd jobs. 17-year-old
Hayden Godfreys gesture for all the
girls at his school in Smitheld, Utah,
resulted from years of buildup and
planning. He saved for a year-anda-half to afford the $450 it cost to
purchase 900 carnations from an
online wholesaler. Every Valentines
Day since he was 14, Godfrey would
anonymously send owers to dozens
of his friends, he said. Each year,
the project grew larger in scale until
he ultimately decided he wanted to
make as many people as possible
happy this Valentines Day. With the
help of volunteers, Godfrey handed
carnations to 834 girls. PTI
Dilbert
by S Adams
22 Economy
INDUSTRIAL
PREMISES
LAND FOR SALE
They say Mumbai is a great leveler. Prince or pauper, you are forced to
stand in queues, get stuck in traffic snarls and on occasion, even take a
local train. But then again, this royalty did not need a lesson in humility
from the city. When Crown Prince of Abu Dhabi Sheikh Mohamed bin
Zayed Al Nahyan, who rang the closing bell at the Bombay Stock
Exchange, an ornate chair was put up for him on the dias alongside the
usual ones for the aam janta. Twenty minutes before the function
kicked off, the protocol officer from the richest middle eastern country
replaced the princely chair with a normal one. Apparently, the Crown
Prince wanted none of the preferential treatment.
OFFICE
AUTOMATION
PROPERTY ANCILLARIES
COMMERCIAL
PREMISES
RBI governor Raghuram Rajan had a pretty special birthday this year.
After all, its not often that one is wished by the leader of a billion
people. Thats right. We hear that Prime Minister Narendra Modi
wished the governor. The greetings show that all is well between the
man who is trying to fuel Indias economy and the man who is
cleaning up the cobwebs in the Indian banking system.
1,20,000SQFT Warehouse
PUNE PROPERTIES
KALYANINAGAR
UNSECURED/ Secured
PUBLIC NOTICES
MACHINERY
& TOOLS
H.D.P.E and P.P. Lamination
MUMBAI PROPERTIES
SOUTH MUMBAI
Investors must avoid panic and remember the real lesson from past crashes
Expert
Take
Dhirendra Kumar
CEO, Value Research
Back in January 2008, when the initial equity crash of the financial
crisis had just happened, there was
a news story that in Ahmedabad,
policemen had been deployed on some lakeshore to prevent suicides. I
dont know what became of that,
but investors would be wondering
whether that stage would be reached this time around.
There are any number of quotes,
sayings and aphorisms that will
tell investors what to do or at least, what to think when the stock
prices are crashing. A typical one
would be: I've found that when the
markets going down and you buy
funds wisely, at some point in the
future you will be happy, which
was said by the great investments
manager Peter Lynch. Or the famous Buy when theres blood in the
streets, even if the blood is your
own, attributed to the 18th century
Baron Rothschild of the Rothschild
banking family.
What theyre telling investors is
that the best time to buy stocks is
when the equity prices are down.
This has to be the most obvious idea
in investing. In fact, it has to be the
most obvious and the simplest idea
in buying anything at all. If you are
buying anything at all, surely it is
better to buy when its cheaper. Its
often pointed out that we do this all
ANDHERI EAST
BUSINESS OFFERS
ANDHERI WEST
SELF
DEVELOPMENT
SITUATIONS VACANT
ACCOUNTS
ACCOUNTANT
FACTORY
WORKSHOP & SITES
BUSINESS
PROPOSALS
the time in everything else we purchase. We wait for sales and we flock
to shops and websites running discounts. And yet most buyers behaviour is the opposite when investing in stocks. They rush to buy
when prices are going up and sell
when they are going down.
Actually, this isnt much of an
anomaly. Our behaviour for things
that we consume and things that
we intend to trade are bound to be
FILE PHOTO
different. We buy stocks with an intention of selling them later. The probability that they will start riutility that we expect from the sing. And the more they fall, the grestock of a company is the price that ater the rise will eventually be.
we sell it at. In a bull market, we coIs this just a something people say?
me to believe that No, in fact it is provable by data. At
utility will be much Value Research, we recently did a
greater in the futu- small but very interesting study
Our
re, so we rush to that quantified this rule over the enbehaviour
buy when the stock tire history of the Sensex.
for things
is down. In bear
We calculated the returns of the
that we
markets, the oppo- Sensex every month for every peconsume and
site is true, as is the riod from the previous one month
things that
case nowadays. In a to the previous 60 months. We also
we intend to
way such behavio- calculated the returns of the Sentrade are
ur happens while sex going forward for five years
bound to be
purchasing anyt- from each of these points (there
different
hing. If a pair of were a total of 24,360 such points
trousers is at a 20% discount, you over the entire history). And then
will not buy it if you expect the dis- we collated this data and looked at
count to increase in the near futu- the patterns. It turns out that if you
re. You are still driven by the gap summed up all periods where there
between the utility you will get and had been a decline of of 5-40% in
the price you will pay.
the Sensex, then the likelihood of
However, even if theres a logical the Sensex being higher over the
explanation for such behaviour, it next five years went up from 88% to
doesnt mean that its not wrong. 100%. The median return over the
This behaviour is driven by a simp- next five years ranged from 80% to
le linear projection of the recent 292%. Essentially, if you buy the
past into the foreseeable future. If Sensex after any kind of a decline
stock prices rose over the last few even a moderate one of 10-20%,
weeks or months, then they will go then you are pretty much certain of
on rising. And the opposite, of cour- making a substantial amount of
se. This is not just simple but even money over the next five years. So
simple minded. In reality, when as the blood on the streets runs
stock prices fall, it always raises the thicker, you know what to do.
Emphasis on Irrigation
From Page 1
MEDICAL
MEDICAL
FINANCE
FARMS, FARM LAND
On the markets side, there is likely to be a comprehensive package to incentivise financial savings,
in particular equity, amid a growing realisation
that lack of this had led to over-reliance on debt and
consequently the problem of excess leverage.
The government is also looking at overhauling
or phasing out the Rajiv Gandhi Equity Savings
Scheme, which hasnt been too successful and is
instead devising a new mechanism to draw investors to the stock market.
Reappointing Sinha
May Require a
Change in Rules
From Page 1
Economy 23
WWW.ECONOMICTIMES.COM
From Page 1
24 Sports
Boria Majumdar
VITALS
Ashwin Traps Lanka
as India Clinch Series
Ravichandran Ashwin weaved his magic
with a career-best 4-wicket haul as India
beat Sri Lanka by nine wickets in the
deciding T20 international to clinch the
series 2-1. Ashwin took two wickets in the
first over and ended with figures of 4-18-4 as the hosts bundled out Sri Lanka for
82, their lowest total in the format. PTI
wealth
www.wealth.economictimes.com | Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi, Pune |
IS THERE A
LEAK IN YOUR
BUDGET?
PAGE 2
wealth
HOW
HEALTHY
WILL YOU BE
WHEN YOU
RETIRE?
PAGE 14
www.wealth.economictimes.com | Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi, Pune | February 15-21, 2016 | 32 pages | `7
ALSO INSIDE
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02
Cover Story
IS THERE A
LEAK
IN YOUR
BUDGET?
Heres how to identify and mend
the spending and investing fissures
that are draining your finances.
GETTYIMAGES
RIJU DAVE
ho doesnt love a good suspense
thriller, especially if it involves
money? One such whodunit
plays out in your home virtually
every month. It involves the
mysterious erosion of money from the household
budget, but no one has a clue about the origins of
this financial black hole. The anti-climactic twist
in this story is that the victim is also the villain.
Yes, we are referring to you, our readers.
Your budgets have holes and you are either unaware or incapable of plugging these. You suffer a
Cover Story
CHARGE
`150-600
Additional chequebook
`100
Standing instructions
BANKING
The first source of leakage is your bank
savings account, which is also a salary account for many people. If its not a flexi or
sweep-in account linked to a fixed deposit,
you are earning a lower rate of interest of
4%, instead of a higher 6-7% that a fixed deposit-linked account would earn. Thats a
2-3% leakage to begin with.
The focus on online and mobile banking
also means that there are a host of charges
for services you thought were free (see Do
you know you are paying for these?). If you are
unaware about these charges, your bank
statement will pop up seemingly mysterious
deductions, which translate into leakages for
your budget. For instance, if you let the
monthly balance in your account dip below
the stipulated threshold, you could lose
`150-600 a month, the charge varying for
different banks. My average monthly balance (AMB) did dip once and I had to shell
out `250, but since then I have been very
cautious, says Delhi-based Aparna Mehra, a
marketing manager in a private company.
If you ask for hard copies of credit cards
or bank statements, you end up paying for
them even though e-mailed statements are
03
You gain
`33,000 from
FD
`23,000
For a regular savings bank account in metro/urban area with an AMB requirement of `10,000.
Charges may vary for other banks. Source: HDFC Bank
TAXATION
This is a landmine of leakages as far as the
average investor is concerned. If you wait
till the end of the financial year to do your
tax planning and invest in the wrong product, you will lose out on returns, especially if
you are in the 20-30% tax bracket, says
Maalde. So if you are investing in a product
that levies a tax on maturity but you didnt
know about it, the return will be much lower
than the one you would expect or account
for in your goal planning and budgeting.
Not paying the quarterly tranches of advance tax on time (see Breach the deadline...)
is another reason for losing money as penalty. Its best to consult a tax professional
about planning and payment at the beginning of the financial year, says Maalde.
Ujas Selarka
37, MUMBAI
MY MONTHLY BUDGET
`65,000
LEAKAGE
20%
MAIN SOURCES OF
LEAKAGE
Online and retail shopping,
unplanned travel, HD cable
TV, mobile & broadband
plans.
HOW I PLUG IT
Postponing, delaying
purchases and outings.
Shifting to low-cost
broadband plans, opting for
standard cable/mobile plans.
nance: You may be claiming deduction of interest on repayment of your home loan, but
Section 24 also allows deduction for interest
paid on loan for reconstruction or repair up
to `30,000, subject to the overall limit of `2
04
Cover Story
BREACH THE
DEADLINE,
CREATE A LEAK
ADVANCE TAX
Deadline: 15 September (not less than
30% of liability); 15 December (60%);
15 March (100%).
AMOUNT OF LEAKAGE
`52.28 lakh
Cigarette (8 a day)
`2,000 a month
`6.27 lakh
Health problems
`6.27 lakh
`64.82 lakh
TOTAL LEAKAGE
CREDIT CARD
PAYMENT
Deadline: Monthly
Leakage: Varies for different banks.
Heres the late payment schedule for
ICICI Bank.
Late payment
charges
None
`100
`500
`600
`700
WATER BILL
Deadline: Monthly
SPENDING
These are the leakages that may seem small
but add up to an enormous, insidious outflow over the years. AL/HABITUAL
EMOTIONAL SPENDS
Spending habits and addictions are like termites eating into your budget. Do you think
you are entitled to a gift after a fight with
your spouse? Or feel you deserve a lovely
dress after a good bonus? This retail therapy may improve your mood, but if you forget to factor it in the budget, it will make for
a substantial leak. If you are spending, say,
`1,000 a month on seeking emotional
boosts, you are losing `12,000 a year.
Similarly, habits like smoking or eating
gutka can burn a neat hole in your budget
(see table). In fact, a 25-year-old can blow
up nearly `65 lakh in 35 years if he uses to-
LATTE FACTOR
Author David Bach coined the term latte
factor, which is used to describe small
amounts of money spent on a regular basis
that can add up to a substantial sum. It can
include things like money spent on coffee,
juices, snacks, parking tickets, even lunching out every other day. So, if you pick a
packet of `10 chips every day, you will end
up spending `300 a month. If you were to
invest this sum at 8.5% return and the price
of chips rises at 5% a year, in 20 years, you
would have `3.58 lakh.
While its not easy curbing these expenses, try noting down every single rupee you
spend in a couple of months. Then figure
out whether you need to curb these expenses or make a provision in the budget. The
latter will allow you to fix a threshold to this
category of spending.
FOOD WASTAGE
The two reasons food causes leakage is because you eat out too much or because of
flawed buying patterns. If you purchase perishable food in bulk or go shopping for groceries without a list, you are bound to waste
food or spend more than required. One of
the reasons for my leakage is dining out, but
I try to curb it consciously through budget-
Chips
@ `10
Ice cream
@ `15
Car parking
@ `20
Momos
@ `50
POLLUTION CHECK
Deadline: One year (validity) for Delhi
Leakage: `1,000 for first offence; `2,000
for subsequent offences.
LEAKAGE
IN A MONTH
(25 DAYS)
LEAKAGE
IN A YEAR
`125
`250
`375
`500
`1,250
`1,500
`3,000
`4,500
`6,000
`15,000
Cover Story
et, he adds.
Shops and e-tailers are adept at breaking
shoppers psychological barriers, which explains the year-long sales on one pretext or
another, a price threshold for free delivery
in online shopping, free trial offers, heavy
discounts, etc. All these are aimed at making
you buy and spend more even though you
dont particularly need a given item. This is
not even counting the faux sales that hike
the original prices, brandish misleading rebates, or dish out poor quality stuff. Suppose
there are two offers in a sale. The first, Buy
one, get one free, offers a pullover free if
you buy one for `1,599. In the second Buy
one, get second at 50%, if you buy two for
`999 each, you will spend `1,499, or `100
more in the first case.
Most such leakages are lifestyle spends
over which people dont have control, says
Maalde. Keep a fixed budget, say, 5% of
your income and dont just buy the next
phone or gadget that comes in the market.
Even while travelling or on a vacation, plan
well. If you have a budget of `60,000 and
end up spending `1 lakh, `40,000 is your
leakage, he adds.
HOUSEHOLD WASTAGE
Your house has endless sources of financial
drainage. Is there a leaky tap in your toilet?
Are your home appliances and gadgets on a
05
Rupali Brar
40, DELHI
MY MONTHLY BUDGET
`60,000
LEAKAGE
10%
MAIN SOURCE OF
LEAKAGE
Unexpected car or
scooter breakdown.
Shopping.
HOW I PLUG IT
By accounting for all
expenses at the end of
the month. Keeping a
tighter rein on spending
in the next few months.
06
Cover Story
6 WAYS TO LEAK-PROOF
YOUR BUDGET
USE BUDGETING APPS OR ENVELOPES
Most budgets spring a leak because they are not implemented well. To
account for each paisa, you need to track your expenses under various
heads and reconcile these with your income. So, note down all your
expenses in a diary or on your mobile, and do it consistently. You could use
envelopes to put in money at the start of the month under different
categories, say, utility bills, entertainment, childrens fees, insurance
premium, etc. At the end of the month, compare your income with your
outgo to identify leaks. Another way is to download a budgeting app that
will do all this for you. You could pick from:
i) Money View: This comprehensive Android app not only sets the monthly
budget and keeps tabs on category-wise spending, but also tracks your
bills and ensures you dont miss a payment. It organises your bank balance
and credit card accounts, and tells you the best ways to manage shared
expenses. Download from Google Play.
ii) Mint: One of the best budgeting apps, it keeps track of your expenses,
income and cash flow, and integrates card and bank accounts. It even
analyses your spending habits and gives you tips on where to save.
Download from App Store or Google Play.
iii) Mvelopes: Available on Android and iOS, it breaks down the monthly
budget (food, entertainment, etc.) and puts it in as many as 25 envelopes
(free version). If the money in an envelope is over, wait till the next month
or transfer money from another envelope. It also integrates four online
financial accounts and credit card accounts. Download from App Store or
Google Play.
SPENDING RULES
The 50/30/20 rule should help straitjacket your spending and stick to your
budget. Assign 50% of your income to necessities like utility bills,
groceries, etc. The next 20% should go towards paying debts and saving for
goals. Lastly, 30% can be used for entertainment. This will not only ensure
smooth cash flow but also avoid discretionary spending. Also, never go
shopping for essentials, especially food, without a list.
Kill two birds with one stone by giving ECS mandate to your bank,
insurance company and mutual fund company, among others, for your
SIPs, premium payment and bills. This will not only ensure that you dont
bypass any deadlines and incur penalty, but also help cut out on dining out
too often or shopping without agenda. Save first, spend later is a motto
that never fails to curb fringe spends.
VOUCHERS/MEMBERSHIPS
Its almost a given that you will not utilise
your gym membership, but most people
dont learn till they have tried and failed. A
couple of years ago, I had impulsively enrolled in a gym as it offered a discount, but I
went for barely two months. I lost nearly
`12,000, says Selarka. He has learnt and not
repeated the mistake.
Then there are gift vouchers that can be
used only on the next purchase or come with
a time constraint; discount coupons with
short validity periods; retail store membership cards that charge a fee and offer reward
points; and credit cards with reward points
that are never redeemed. I recently spent
`150 for an upgrade of a membership card of
a well-known retail chain even though I
knew the benefits were minimal, says Ritika
Gupta, a boutique owner from Noida. There
are others like Das who are more careful. I
never go for such redemption offers and always redeem my credit card reward points,
says Das, who works for a private company.
Make sure you are not bulldozed by headstrong salespeople into buying cards and
vouchers you dont need. If you pick up discount coupons, redeem before their expiry.
CABLE/MOBILE PLANS
Sub-optimal plans, be it for phone, TV, Internet or magazine subscriptions, cause a big financial fissure. I had taken a two-year subscription for an IT magazine that cost me
`3,000. Since I barely read it, it was a waste
of money, but now I make a point of read
only online reviews, reveals Selarka. He
also found a way to reduce his landline, mobile and TV cable plan leakage of nearly
`5,000 when he cut one HD subscription because of minimal usage, and saved more by
selecting the best mobile and home broadband plans based on actual usage.
Most people shell out more for fewer
needs, or continue with subscriptions to servicese-books, gaming sites, music servicesthat they no longer use. My children
made me register my credit card for an online gaming site that had an automatic renewal of `999 every six months. After a
while, the kids stopped playing and I forgot
about it till I couldnt reconcile the mysterious `999 that started appearing in my credit
card bill. I cut the registration last year, says
Mehra. This is saving her `2,000 a year.
Dhiraj Das
41, KOLKATA
MY MONTHLY BUDGET
`40,000
Did your car break down without a warning? Did you forget your friends
bday? There are other minor expenses you dont anticipate, such as a
wedding, a childs school excursion or broken shoes, a plumbing issue at
home, a medical expense, or a traffic violation. A one-time damage to a
home appliance or vehicle can push back your finances by `7,000-10,000.
I end up spending `5,000-6,000 on such expenses and theres nothing
much I can do about it, says Rupali Brar. Since there is no getting away
from such expenses, it is better to be prepared. Maintain a small corpus
of, say, `10,000, and keep it separate from the contingency corpus that
should be equal to 3-6 months household expenses.
LEAKAGE
1-2%
MAIN SOURCE OF
LEAKAGE
Eating out and shopping.
HOW I PLUG IT
Factoring it in budget and
foregoing the expense in
subsequent months.
Cover Story
`15,000
`10,150
`3,538
`21,978
`86,978
`65,000
`68,538
CREDIT CARDS
`5,785
MISSED PAYMENTS
Procrastination and forgetfulness are twin
07
08
Real Estate
-5%
-21%
BRICKS
CHANGE
IN PRICE
SINCE
APR 2014
-18%
-10%
CEMENT
10%
8%
Construction material
now cheaper than in 2014
STEEL
5%
-15%
ELECTRICAL
FITTINGS
5%
-6%
4%
15%
PAINTS
FLOORING
% SHARE
IN TOTAL
COST
Figures based on prices
in Delhi market .
Source: Delhi Govt
TOTAL
TOTAL
47%
NILANJANA CHAKRABORTY
his is not the best time to buy a
house. Though an estimated 2.45
lakh houses are lying unsold
across the country, the correction expected in property prices
has still not happened. Interest rates too are
not coming down. Even so, the dip in commodity prices means this could be the ideal
time to construct a house. Prices of key construction materials that account for nearly
47% of the total construction costs have
come down 6-21% in the past six quarters,
bringing down the overall costs by more
than 6% (see graphic). These figures are
based on prices of construction material in
Delhis Burari Market between April 2014
and September 2015.
Steel accounts for the biggest chunk of the
costs of construction material. Last week,
the government imposed a minimum import
-13.6%*
* Change in
weighted cost of all
six materials
10
Retirement
NARENDRA NATHAN
f you have been thinking
about planning your retirement, you now have more
options in the form of retirement products from mutual
funds. Even though Franklin India Pension Fund (FIPF) and UTI
Retirement Benefit Pension
Fund (UTI RBPF) have around
for decades, the Income Tax Department has only recently allowed more such funds, with Sec
80C benefits, to be introduced.
And after Reliance Retirement
Fund (RRF), which hit the market in February 2015, now HDFC
has launched its Retirement Savings Fund (HDFC RSF). But, are
UTI Retirement
Benefit Pension
Franklin India
Pension Plan
Reliance
Retirement Fund
Plans
1. Equity plan
(80% - 100% in equity )
2. Hybrid Equity Plan
(60% - 80% in equity),
3. Hybrid Debt Plan (5%
- 30% in equity).
Exit load
1% upto age of 60
1% upto age of 58
3% upto age of 58
1% upto age of 60
Lock-in period
Five years
Three years
Three years
Five years
Note: Tata Retirement Savings Fund has not considered because it doesnt offer Sec 80C benefits.
1 YEAR
3 YEAR
5 YEAR
10 YEAR
15 YEAR
-1.05
11.98
11.33
9.72
11.95
-0.98
9.05
8.70
8.20
9.58
-0.48
-13.51
Existing retirement funds have generated
good returns for long-term investors
RETIREMENT
FUNDS STUCK
IN APPROVAL
BOTTLENECK
The mutual fund industry is peeved that the
Central Board of Direct Taxes is taking too
long to approve tax benefits under Section
80C for new schemes. At least eight
retirement mutual funds are stuck at the
approval stage, some of them for the past
15-18 months. Though Sebi wants fund
houses to launch retirement plans, only two
retirement mutual funds have been launched
in the past one year. The Reliance Retirement
Fund was launched in February last year and
HDFC Retirement Savings Fund was
launched this week. According to a report in
the Financial Chronicle, the industry body
Association of Mutual Funds in India (Amfi)
has written to the finance ministry to let Sebi
approve the schemes instead of waiting for a
nod from the CBDT. Permission should be
given to Sebi to approve the offer documents
instead of CBDT, the report quotes C.V.R.
Rajendran, Chief Executive of Amfi. In its
Budget wish submitted to the finance
ministry, Amfi has also sought additional tax
breaks for retirement mutual funds under
Section 80CCD, similar to those extended to
the NPS in last years Budget. Babar Zaidi
FUNDS IN PIPELINE
FUND NAME
PENDING
SINCE
Aug 2014
Nov 2014
Dec 2014
Feb 2015
Apr 2015
Apr 2015
Jul 2015
Jan 2016
Source: Sebi
Mutual Fund
11
Inflows into ELSS funds peak in last three months of the financial year
hey are very transparent, offer taxfree gains and high liquidity and have
very low charges. But the biggest draw
of ELSS funds is their potential to deliver spectacular returns. The best
performing ELSS scheme, Axis Long-Term Equity
Fund, has churned out over 18% compounded annual returns in the past five years. So, `60,000 invested in the fund in February 2011 is now worth
`1.4 lakh.
However, not all investors have made money.
ELSS funds carry the same risk as any equity
scheme and if you had invested in February 2015,
you would be sitting on losses. Thats why financial advisers and fund houses tell investors to invest in equity funds through monthly systematic
investment plans (SIPs). But it seems investors
arent listening.
According to data from Computer Age Management Services (CAMS), barely 15% of the total inflows into ELSS funds comes through SIPs. In
2014-15, SIPs accounted for only `578 crore of the
total inflows into the ELSS schemes of the 15 fund
houses serviced by CAMS. If extrapolated to the
entire industry, this means roughly `1,200 crore
came in as SIPs during a year when the total inflow into the ELSS category was `8,343 crore.
More than 85% of the inflows were one-time or
lump sum investments.
Figures from the Association of Mutual Funds
in India (AMFI) are more disturbing. Nearly 50%
of the total inflows into the ELSS category happen
in the last three months of the financial year. The
month of March alone accounts for 22-25% of the
total inflows. Instead of taking the safer and more
convenient SIP route, taxpayers are getting
caught in the rush of March and investing lump
sum in risky assets.
Delaying tax planning and investing in the last
few months can be disastrous. Calculations show
that if a taxpayer started an SIP of `5,000 per
month in the Axis Long-Term Equity Fund in April
2012 and continued till March 2015, the `1.8 lakh
invested over three financial years would be now
worth `2.95 lakh. However, if the investments
were bunched into the last three months of the
three financial years, the corpus would be 14%
smaller at `2.54 lakh. Not taking the SIP route
would have cost him `41,000.
The other mistake is that investors take a blinkered view of ELSS funds. Instead of looking at
them as a means to grow wealth over the long
term, they are seen as a short-term tax-saving investments that can be redeemed after three years.
Investments are followed by redemptions, so the
net inflows into the category are low and average
folio size is very low. ICICI Prudential Long-Term
Equity (Tax Savings) has given returns of over 21%
since it its August 1999 launch. `10,000 invested
in the NFO is now worth `2.42 lakh. But despite
robust inflows every year, the average folio size is
`61,220. This means very few investors have
earned the 21% returns since launch.
Instead of using SIPs, most buyers invest in lump sum during the tax
planning season from January till March
47.1%
12.5%
1,500
1,250
Inflows in last three
months as % of total
during financial year
1,000
51.9%
49.9%
750
500
250
0
A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J
2012
2013
2 01 4
2 01 5
Source: AMFI
INVESTMENT PERIOD
AMOUNT
INVESTED (`)
VALUE OF
REGULAR SIPS (`)
IF INVESTED IN
LUMP SUM IN
MARCH (`)
IMPACT ON
CORPUS (%)
1 year
60,000
70,869
55,658
15,211
-21.5
2 years
1.2 lakh
1.83 lakh
1.55 lakh
28,898
-15.8
3 years
1.8 lakh
3.13 lakh
2.78 lakh
34,914
-11.2
4 years
2.4 lakh
4.56 lakh
4.18 lakh
37,886
-8.3
5 years
3.0 lakh
6.03 lakh
5.65 lakh
37,798
-6.3
Outflows (`cr)
8,343
6,613
2,626
2,908
2,661
-1,656
-4,282
2012-13
Source: AMFI
-1,642
-4,303
20 13-14
-2,924
-5,435
2014 -15
ELSS
(`CR)
%
CHANGE
IN AUM
EQUITY
FUNDS
(`CR)
%
CHANGE
IN AUM
2012-13
22,731
-3.9
1,49,777
-5.46
2013-14
25,547
12.4
1,65,560
10.54
2014-15
39,470
54.5
3,05669
84.63
2015-16
39,169
-0.8
3,45,181
12.93
3,689
2015-1 6
12
Financial Planning
Paper
Work
PAN application by NRI
A PAN is mandatory for every person who
is required to file a return, and for those
who wish to carry out a financial transaction for which the quoting of PAN is compulsory. An NRI (non-resident Indian) also
needs to obtain a PAN if he falls into either
of the above categories. The procedure to
obtain a PAN is fairly simple and similar
across all categories of individuals. However, NRIs need to provide certain documents while applying for a PAN, which are
specific to them.
Form
NRIs who are Indian citizens have to apply
for a PAN by filling Form 49A, while NRIs
with citizenship of another country need
to fill up Form 49AA. These forms can be
accessed, filled and submitted online
through the websites of UTIITSL and
NSDL. On submitting the form, an
acknowledgement copy with a 15 digit
number is generated, which needs to be
sent to the designated address along with
other documents.
Fees
If the communication address provided by
the NRI is within India, the fees are `107,
and if it is outside India, the fee is `989,
which includes application fees and dispatch charges. In case of online applications, the fees may be paid through
debit/credit card or through Netbanking.
Alternatively, a demand draft favouring
UTIITSL /NSDL can be dispatched, along
with the documents and form.
Documents
Two photographs must be pasted in the
space provided in the acknowledgment
form. Also to be submitted is a copy of the
passport as proof of identity. Any of the
following will serve as proof of address:
Copy of passport
Copy of bank account statement in
country of residence
Copy of NRE bank account statement
showing at least two transactions in six
months and duly attested.
GETTYIMAGES
Online trading
accounts offered
by brokers include
a facility for investing systematically in chosen
equity shares,
using an equity
SIP.
Investors set up
an investment
amount, or a
given quantity
of shares, to be
bought at a certain frequency
over a fixed
period of time.
The content on this page is courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
Process
The signed form with the requisite
documents should reach the designated
address within 15 days of the online
application. If the payment mode is
demand draft, the PAN card is issued on
realisation of the payment, and dispatched to the communication address
mentioned by the applicant.
Points to note
NRIs can provide a foreign address as residential or office address if they do not
have any Indian address of their own.
PAN card dispatch facility outside India is
available only in select countries. It is best
to check the list before applying.
Financial Planning
13
Do not compromise on
investments, insurance
Our inability to separate investment and insurance and failure to understand the benefits of pure term
plans while working towards our money goals are costing us dear, says Uma Shashikant.
nderstanding how many of us
think about protection and insurance can be a learning experience. My 30-year-old friend
has an ancestral home in a small
village in Karnataka. His grandparents
moved out in search of jobs about 40 years
ago. The house has been rented out for a pittance and is cared for by the local uncles.
While it is unthinkable for them to move
back into that house, in my friends mind it
represents a place he can go to, if all else
fails. A house in the village represents a
hedge in his mind, even if he might never
use it. The house is his mental equivalent of
an insurance policy. He has let go of a few
benefits for the comfort of a last resort at a
time of distress.
Our idea of insurance is woven around actions that provide mental peace. We prod
children to study well and get into a course
of study that would lead to getting a good
job. We like to believe that the premium we
pay for that education is a good insurance
for the children, who would be able to earn a
stable income in the future. It is common to
hear parents speak of education as an investment rather than a cost. So much so, that
parents dont think twice about pushing
children to become a ballet dancer, swimming ace and aeronautical engineer all
rolled into one. The willingness to incur
costs for unknown future benefits seems to
come somewhat easily.
But we are not able to think of a simple
term insurance in the same manner as the financial equivalent of an ancestral home or a
quality education. Not even if we dont have
an ancestral home or dont intend to depend
on our children in the future. We think that if
we saved and invested, we would be fine.
Building long-term wealth is the preferred
approach to securing our future and most of
us go about it without including adequate
life insurance cover in the mix. A term insurance product provides actual tangible benefit against the very real risk of losing a life.
Many of us dislike the product for two reasons: We dont want to think about death
and we consider paying a premium and getting nothing, if one survives the policy, to be
a bad idea.
When the desired outcomes are positive
and encouraging, we are motivated into action. Fees for coaching classes are easier to
pay. Repairs of ancestral homes are routinely done. But when the visualisation involves
disease and death, we are not likely to think
about it. Any long-term wealth-building
strategy is incomplete without basic life insurance. Only, we do not see its merit.
Assume that a 30-year old investor wants
to build a long-term corpus of `1 crore. If he
chooses to save and invest to meet his goal,
GETTYIMAGES
14
43% 34%
To spend
more time
with family.
32%
Am tired of
everyday routine of work.
20%
27%
Want to pursue
another career
or voluntary
work.
Work is having a
negative impact
on mental/physical health.
(Base: Pre-retirees
aged 45+ who would
like to retire in the next
ve years.)
state of health
in retirement
Most people expect their health and
financial condition to improve in
retirement, reveals the new HSBC
survey, Healthy New Beginnings, on
the future of retirement. Here are
some other findings.
Which situation would make/made saving more difficult for your retirement?
40%
25%
Having poor
health.
39% 43%
Buying a
home.
32%
31% 35%
22%
Partner
becoming
ill.
32%
Ability to take
care of myself.
Sending
children to
university.
26% 27%
Retirees
Sending children
to school.
31% 31%
My nancial
well-being.
Pre-retirees
My mobility.
31%
My ability to take
care of others.
Why would you not be able to retire in the next five years?
72% 53%
I would
struggle
nancially.
I haven't
saved enough.
42%
17%
I have a lot of
debt.
31%
(Base: Pre-retirees
aged 45+ who would
like to retire in the next
ve years but are unable to do so.)
It would be too
soon. I still have
a lot to give.
FINANCES
HEALTH
45%
54% 18%
24%
DONT KNOW
25-34 yrs
35-44 yrs
45-54 yrs
55-64 yrs
(Base: Pre-retirees)
Improve
Worsen
Improve
Worsen
(Base: Pre-retirees)
30%
To what extent do you expect your overall health to improve or get worse when you retire?
25%
25-34 YRS
48% 24%
35-44 YRS
41%
22%
45-54 YRS
47% 25%
55-64 YRS
48%
GRAPHICS
Get a little/a
lot worse
Improve a
little/a lot
RAJ
Source: Healthy New Beginnings was conducted in 17 countries among 18,207 people of
working age (25+) and in retirement. The research was conducted online in September and
October 2015. The study had 1,011 people from India. All responses do not add up to 100%
due to multiple choices.
15%
Nothing
prevents me.
19%
38%
Work
commitments.
Affordability/
too expensive.
10% 19%
Poor health
condition.
Retirees
Pre-retirees
16
Family Finances
NET WORTH OF
RATHOD
Asset
Current
value (`)
EPF
2.5 lakh
Stocks
1 lakh
Mutual funds
4,000
Total assets
3.54 lakh
Liabilities
Current
value (`)
Loan
Nil
Total liability
Nil
`3.54 lakh
Rathods income
`33,000
Total monthly
income
`33,000
Outflow
Total monthly
expenses
`12,458
Time to
achieve
(years)
Future
cost (`)
Resources used
Emergency fund
82,500
3,500
Vacation
70 lakh
6,000
Retirement
34
4.65 crore
EPF, Stocks
`16,542
Household
expenses
`12,000
Investments
`4,000
Insurance premium
`458
4,000
13,500
750
Total
Surplus
Further
investment (`/
month)
Surplus
* After six months, Rathod will take a `27 lakh home loan for which the EMI will be
`14,250, and will get an approximate monthly rental income of `8,000.
Annual rate of return assumed to be 13% for equity, 9% for equity income
funds and 8% for debt funds.
Inflation assumed to be 8%.
14,250
42*
Family Finances
17
ASSET ALLOCATION
EXISTING
30%
Equity
70%
Debt
RECOMMENDED
60%
Debt
40%
Equity
Financial plan by
Pankaaj Maalde,
Certified Financial Planner
WRITE TO US
FOR EXPERT
ADVICE
Looking for a professional to analyse
your investment portfolio? Write to us
at etwealth@timesgroup.com with
Family Finances as the subject. Our
experts will study your portfolio and offer
objective advice on where and how much
you need to invest to reach your goals.
18
Your Queries
Q A
&
JAYANT R. PAI
CFP AND HEAD OF
MARKETING, PPFAS
MUTUAL FUND
You want an income of `1.5 lakh per month`18 lakh a yearafter 12 years,
from a surplus of `1 crore. Given your age, it is advisable that you invest the
surplus into a mix of equity and debt schemes, targeting an annual return of
10%. For a 10% return, your investment should grow to around `3.13 crore
after 12 years. To invest in equity, you should opt for diversified equity funds
with a proven track record. If you invest this entire amount into a debt
instrument, which fetches an annual after-tax return of 6%, you should be
able to generate an annual income of `18 lakh after 12 years.
MINAL AGARWAL
SAILESH MULTANI
MANAGING PARTNER,
MAHESH K AGARWAL &
COMPANY
CHIEF FINANCIAL
PLANNER,
EDELWEISS BROKING
SHUBHAM AGRAWAL
SENIOR TAXATION ADVISOR,
TAXFILE.IN
HOMI MISTRY
PARTNER, DELOITTE
HASKINS & SELLS
C.R. CHANDRASEKAR
CEO AND CO-FOUNDER,
FUNDSINDIA.COM
Mutual Funds
19
Lakshmi Iyer
Chief Investment
Officer (Debt) & Head
Products, Kotak
Mutual Fund
Global pressures are bound to
affect India, but the RBI has
managed currency market
expectations well, Iyer tells
Anuradha Himatsingka &
Atmadip Ray.
There are conflicting opinions about the impact of China on India. What are your views?
China is a manufacturing hub and there has
been a clear slowdown there. Whether we
like it or not, we cant remain aloof, despite
our strong macros. If the situation in China
worsens, there could be multi-level impact
on us. In case the Chinese currency depreciates, we will not be able to stay isolated. If
our currency starts depreciating, it would
lead to FII outflows This will put pressure on
the currency. A global slowdown is in the offing. We are the fastest growing economy in
the world, but if global factors dont settle, it
could pose a threat to us.
In the past few weeks, close to $5 billion was
withdrawn from Indias forex reserves. We
20
smart
stats
ET WEALTH TOP 50 STOCKS
In
This
Section
Smart Stats
Mutual funds
21
24
Alternate investments 25
Every week we put about 3,000 stocks through four key filters and rate them on a mix of factors. The end result of this
exercise is the listing of the top 50 stocks based on the composite rating to help ease your fortune hunt.
RANK
Current
Rank
Previous
Rank
GROWTH%*
Stock
Price
Revenue
Net
Profit
VA L UAT I O N R AT I O S
RISK
Bear
Beta
No. of Consensus
Analysts
Rating
PE
PB
Div
Yield
CESC
417.70
27.35
289.11
26.96
0.92
2.05
0.10
1.68
1.55
26
4.77
Indiabulls Housing
PGCIL
LIC Housing
NIIT Technologies
2
3
4
1
4
5
136.70
406.60
485.25
38.89
75.26
24.21
41.76
65.64
148.90
14.20
14.72
25.91
1.86
2.61
2.18
1.47
1.16
1.88
0.35
0.22
0.16
0.91
1.52
1.85
0.53
1.48
1.34
46
46
28
4.91
4.39
4.46
LIC Housing
PTC India
60.40
31.66
41.77
6.99
0.58
3.51
0.18
1.78
1.81
17
4.75
PEG
Downside
Risk
R AT I N G
4.85
106
75
57
Reliance Power
54
J Kumar Infra.
Prestige Estates
51
Grasim Industries
3,392.15
24.20
64.84
17.75
1.34
0.53
0.31
0.90
0.85
27
Jagran Prakashan
155.95
33.82
63.13
21.12
4.44
2.18
0.37
1.16
0.72
25
4.76
Yes Bank
11
714.45
47.01
45.81
14.51
2.55
1.22
0.34
1.60
1.69
52
4.48
Oriental Bank
85.05
13.13
173.00
5.17
0.19
3.45
0.03
2.10
2.31
15
3.73
Prestige Estates
10
162.75
51.49
57.40
17.90
1.60
0.94
0.34
1.83
1.39
19
4.68
Axis Bank
11
13
377.20
37.55
37.12
12.02
2.00
1.17
0.42
1.51
1.63
59
4.54
Kalpataru Power
12
15
167.15
21.49
95.31
21.44
1.16
0.83
0.21
1.82
1.26
16
4.69
JK Cement
13
10
443
27.77
52.37
21.62
1.92
0.90
0.33
1.44
0.86
20
4.68
Tata Chemicals
14
16
334.40
10.20
69.20
14.29
1.53
3.57
0.21
1.41
1.50
11
4.50
5.16
Oriental Bank
5.17
6.99
PTC India
Unichem Laboratories
15
18
194.95
29.50
81.85
23.09
2.01
0.98
0.28
1.77
1.46
11
4.82
J Kumar Infraprojects
16
20
301.05
54.21
79.07
18.86
2.44
0.63
0.43
1.61
0.94
16
4.81
7.50
17
17
17.15
20.19
42.57
7.50
0.64
3.31
0.18
1.33
1.13
19
3.84
Oil India
7.53
18
19
81.35
13.69
67.60
5.16
1.31
1.75
0.11
2.03
2.17
12
4.67
Tata Power
19
22
56.30
9.33
695.63
332.35
1.16
2.20
0.12
1.40
1.35
32
3.84
Hindalco Industries
20
21
63.70
6.33
73.57
15.46
0.34
1.49
0.20
1.80
1.69
34
3.50
ICICI Bank
21
14
199.25
22.96
17.25
9.45
1.37
2.41
0.66
1.40
1.31
53
4.45
M&M
22
29
1,126.60
21.46
47.09
21.22
2.58
1.01
0.47
1.26
1.03
47
4.40
Torrent Pharma
23
26
1,266.10
44.97
78.90
28.32
8.54
0.85
0.36
1.47
1.11
30
4.37
24
25
26
27
23
25
177.00
121.70
614.35
2.45
8.08
106.00
333.10
144.64
44.02
29.02
21.39
11.26
1.17
3.62
3.32
0.54
0.85
5.76
0.11
0.15
0.49
1.71
1.32
1.60
1.02
0.96
1.25
11
14
14
5.00
4.57
4.43
Reliance Power
27
30
42.85
57.40
46.01
11.71
0.59
2.17
0.24
2.00
2.15
12
3.00
28
38
3541.45
30.47
63.89
28.16
4.41
0.68
0.53
1.10
1.03
55
4.35
Cipla
29
32
540.85
48.64
79.52
36.83
4.03
0.37
0.45
1.29
1.04
44
4.09
ACC
30
NR
1,234
16.81
80.43
39.26
2.74
2.37
0.49
1.03
0.74
44
3.34
Coal India
31
36
305.10
20.43
23.98
14.08
4.79
6.60
0.61
1.29
0.95
47
4.38
Best PEGs
Top 5 stocks with the least price
earning to growth ratio.
CESC
0.10
0.11
0.03
Oriental
Bank
0.11
0.12
JK Tyre &
Industries
Tata Power
BHEL
32
24
120.25
14.66
62.46
20.30
0.86
0.91
0.31
1.66
1.49
46
2.30
Glenmark Pharma
33
34
720.40
34.00
176.96
41.12
6.51
0.28
0.24
1.65
0.83
31
4.16
IRB Infrastructure
34
33
209.95
48.73
23.82
12.93
1.70
1.79
0.67
1.76
1.80
24
4.56
Simplex Infrastructures
35
40
245.95
18.35
91.40
21.22
0.82
0.19
0.21
1.63
1.01
16
4.00
Cadila Healthcare
36
31
319.80
28.69
105.07
28.43
7.70
0.74
0.27
1.65
0.88
37
3.62
Sobha
37
12
252.25
9.80
17.62
10.47
1.02
2.66
0.56
1.68
0.90
25
4.70
Allcargo Logistics
38
44
152.30
20.15
46.82
16.18
2.03
0.70
0.25
1.58
1.53
11
4.82
Ashok Leyland
39
39
80.90
38.29
903.43
165.73
5.02
0.52
0.18
1.60
1.54
43
3.77
UPL
40
41
387.70
21.22
34.97
14.60
2.85
1.26
0.46
1.73
1.15
26
4.73
KEC International
41
37
101.70
14.23
50.25
16.28
1.97
0.84
0.32
2.11
2.36
23
4.65
42
NR
105.25
13.50
83.69
26.98
1.19
1.90
0.30
1.45
1.74
12
3.85
4.50
HSIL
43
43
258.40
18.17
54.78
20.19
1.42
1.30
0.48
1.62
1.31
14
IndusInd Bank
44
NR
811.15
40.32
32.50
21.00
2.77
0.48
0.79
1.24
1.14
55
4.56
Motherson Sumi
45
47
220.90
30.96
95.16
33.82
8.78
0.86
0.36
1.94
1.42
35
3.94
Coromandel International
46
49
158.90
10.89
16.28
11.49
2.10
2.73
0.39
1.33
0.84
18
4.33
Oil India
47
50
326.75
9.15
7.63
7.53
0.91
8.44
0.98
1.30
0.74
37
4.32
Hero MotoCorp
48
46
2,496.90
15.54
46.58
21.11
7.63
1.17
0.45
1.09
0.61
51
3.82
NCC
49
NR
56.95
2.50
422.48
46.34
0.93
0.66
0.16
2.38
2.03
21
4.30
UltraTech Cement
50
45
2,717.90
22.79
52.64
35.56
3.92
0.32
0.68
1.22
0.99
54
4.46
* The figures under this head are for expected growth. NR: Not in the ranking. Data as on 11 Feb 2016. Source: Bloomberg
Income Generators
Top 5 stocks with the highest dividend yield.
Least Risky
Top 5 stocks with the lowest downside risk.
Methodology
The four filters used to arrive at
the Top 50 stocks
Only traded stocks: Of the about 7,000
listed stocks, only actively traded stocks
were considered.
Only big stocks: Only companies with
an average market capitalisation and
revenue of over `1,000 crore were
considered.
Only well tracked: We picked stocks
that are tracked by at least 10 analysts.
Only profitable and growing: We
considered only those stocks that are
www.wealth.economictimes.com
Maruti
Suzuki
Hero
MotoCorp
1.10
1.09
PGCIL
0.91
ACC
1.03
Grasim
Industries
0.90
See downside risk and bear beta columns
in the adjacent table.
Smart Stats
F U N D S
T O
B U I L D
Y O U R
P O R T F O L I O
2.2
Sundaram Growth Fund
4.99
DHFL Pramerica Large Cap Equity
5
IDFC Imperial Equity Fund
5.28
NET
ASSETS
(` cr)
R E T U R N S
3-MONTH
6-MONTH
1-YEAR
( % )
3-YEAR
5-YEAR
143.14
-7.59
-15.41
-10.4
14.11
11.5
2.99
275.07
-7.46
-16.68
-9.6
13.59
2.93
10,174.85
-6.84
-14.36
-11.3
13.46
12.22
2.16
118.60
-6.35
-13.38
-10.33
13.28
9.78
2.87
241.34
-6
-12.15
-8.5
12.82
10.66
2.71
74.95
-6.38
-13.05
-7.22
12.17
11.01
3.05
9,731.64
-8.01
-14.81
-12.53
11.99
11.39
2.16
EXPENSE
RATIO
5.31
14.1%
The 3-year
return of
Religare Invesco
is the highest in
its category.
5.63
HDFC Premier Multi-Cap
1,231.12
-8.15
-14.65
-10.15
11.73
10.19
2.61
1,251.55
-7.67
-12.62
-9.55
11.61
10.6
2.43
2,998.49
-8.38
-16.28
-12.93
11.29
9.76
2.34
5.94
1,071.39
-12.05
-19.64
-12.94
10.74
9.41
2.46
827.23
-7.78
-15.24
-11.42
10.73
10.11
2.63
6,628.07
-7.56
-14.5
-9.44
10.32
9.63
2.2
103.70
-7.23
-15.65
-13.61
9.7
9.86
2.94
102.42
-8.23
-17.18
-12.69
8.98
9.76
2.89
5,063.64
-9.77
-17.89
-17.73
8.89
10.2
2.25
10,664.05
-9.04
-14.61
-8.3
22
17.84
2.24
3,888.05
-13.8
-19.62
-14.11
20
16.83
2.26
6.07
JM Core 11 Fund
6.45
Taurus Bonanza Fund
1,489.69
-6.21
-13.86
-4.4
18.47
14.42
2.43
574.24
-5.1
-11.9
-3.12
18.05
13.37
2.77
864.77
-6.81
-14.28
-9.68
17.78
13.44
2.69
396.95
-6.44
-12.59
-4.86
17.72
15.07
3.01
5,991.08
-6.47
-13.25
-6.83
17.2
14.7
2.26
12.86
Reliance Regular Savings Reg.
13.66
Reliance Growth
3,745.12
-8.03
-14.87
-9.2
17.09
13.74
2.21
13.69
2,391.55
-8.39
-14.97
-9.99
16.88
12.45
2.28
3,163.64
-4.78
-10.73
-4.03
16.55
14.69
2.32
13.73
2,762.00
-8.57
-14.71
-8.98
16.47
13.1
2.29
1,391.25
-7.73
-15.47
-9.71
15.94
13.88
2.41
133.80
-12.51
-16.37
-8.25
15.74
11.35
2.88
13.84
SBI Emerging Businesses
1,081.90
-7.39
-13.77
-8.58
15.58
13.43
2.52
1,048.93
-8.92
-13.69
-6.92
15.47
11.97
2.51
1,032.54
-8.64
-14.56
-10.6
15.35
11.97
2.61
1,107.99
-6.29
-15.22
-9.61
14.99
13.9
2.48
542.74
-6.79
-15.48
-14.51
14.85
11.77
2.61
176.07
-6.46
-15.64
-7.9
14.71
13.96
2.73
11.57
1,808.18
-7.19
-14.61
-11.26
14.49
12.72
2.33
Kotak Opportunities
693.82
-8.41
-16.65
-10.04
14.33
11.47
2.73
146.31
-9.84
-15.53
-11.66
13.93
11.7
2.77
969.32
-7.9
-15.96
-11.71
13.85
12.75
2.52
4,642.75
-7.34
-14.79
-9.65
13.67
12.48
2.35
15.43
35.34
-11.61
-16.17
-10.81
13.41
2.95
14.24
Sahara Star Value Dir.
3,356.05
-7.29
-16.06
-4.23
28.56
20.82
2.4
1,054.32
-6.09
-12.18
-0.26
28.19
24.1
2.55
17.52
406.21
-5.6
-13.12
-5.21
26.06
18.23
2.73
655.32
-6.72
-15.43
-4.21
25.55
20.5
2.44
3,846.39
-5.91
-11.59
-5.35
24.24
20.47
2.31
10,639.48
-6.59
-13.94
-4.09
23.82
19.98
2.32
449.13
-6.49
-14.95
-2.22
23.34
22
2.69
473.11
-6.25
-14.29
-7.01
23.13
20.17
2.74
123.26
-5.81
-14.09
-6.46
22.85
19.67
3.01
2,352.02
-5.05
-12.17
-4.53
22.55
20.27
2.47
28.5%
The 3-year
return of UTI
Midacp is the
highest in its
category.
4.93
Sundaram Balanced Fund
829.81
-8.58
-15.71
-2.69
27.69
21.64
2.93
6.72
1,326.02
-3.74
-10.1
5.18
29.06
23.02
2.55
2,608.00
-5.69
-10.74
-1.83
29.27
23.19
2.4
11.5
Religare Invesco Growth Fund
11.39
ICICI Pru Focused Bluechip Reg.
11.01
Religare Invesco Dynamic Equity Fund
17.84
ICICI Prudential Value Discovery Fund
16.83
Franklin India High Growth Companies
15.07
Tata Ethical Fund
14.7
Franklin India Prima Plus Fund
14.69
SBI Bluechip Fund
29.5
Mirae Asset Emerg Bluechip Dir
29.47
UTI Mid Cap Fund Direct Plan
28.56
UTI Mid Cap Fund
28.19
Mirae Asset Emerg Bluechip Reg
27.03
Birla Sun Life Pure Value Fund
35.75
SBI Small & Midcap Fund Dir.
34.34
SBI Small & Midcap Fund Reg.
33.79
DSP BlackRock Micro Cap Dir.
33.55
Reliance Small Cap Fund
32.89
DSP BlackRock Micro Cap Reg.
6.01
12.22
16.44
22%
12.34
5.74
LEADERS
ET Wealth collaborates with Value Research to identify the top-performing 100 funds
across 10 categories. Equity funds and equity-oriented hybrid funds are ranked on 3-year
returns while debt-oriented hybrid and income funds are ranked on 1-year returns.
VALUE
RESEARCH
FUND RATING
21
1,874.13
-9.52
-12.52
-2.31
32.53
21.37
2.44
7.19
2,233.01
-6.15
-11.65
5.27
32.89
23.34
2.43
7.23
Baroda Pioneer Balance Fund
15.51
Tata Balanced Fund
14.65
ICICI Prudential Balanced Fund
14.45
HDFC Balanced Fund
14.17
L&T Dynamic Equity Fund
13.98
SBI Magnum Balanced Fund
Annualised returns in % as on 10 Feb 2016.
22
Smart Stats
Top 5 SIPs
R E T U R N S
3-MONTH
6-MONTH
1-YEAR
( % )
3-YEAR
5-YEAR
EXPENSE
RATIO
19.09
IDFC Premier Equity Fund
19.03
6,479.59
-3.36
-11.57
-3.35
25.03
20.56
2.51
1,947.66
-4.36
4,451.34
-8.97
-12.79
-4.94
19.63
14.26
2.38
-17.17
-17.16
19.27
16.24
2.37
283.92
233.77
-4.19
-12.72
-5.36
18.79
14.79
2.96
-5.69
-11.55
-3.51
17.53
13.79
2.73
254.63
-7.35
-14.42
-8.08
17.43
14.8
2.78
1,834.68
-6.19
-13.43
-7.1
17.26
14.87
2.39
2,794.48
-5.97
-10.19
-8.11
17.13
13.86
2.41
409.20
-5.39
-15.02
-7.93
17.05
16.35
2.82
1,103.86
-7.78
-14.96
-8.05
16.03
13.26
2.5
356.21
-7.23
-17.42
-10.44
15.81
13.38
2.88
1,008.22
-4.14
-8.39
-1.46
17.94
13.97
2.76
19.03
ICICI Prudential Value Discovery
18.60
UTI Mid Cap Fund
17.89
SIP: Systematic investment plan
As on 10 Feb 2016
Top 5 MIPs
Hybrid: Equity-oriented
5,010.49
-4.85
-10.59
-5.36
17.52
15.51
2.27
2,892.74
-3.69
-7.05
-1.92
17.08
13.98
2.47
4,732.11
-6.65
-10.58
-5.97
16.59
14.45
2.13
759.92
-4.37
-8.77
-3.97
16.04
13.3
2.75
2,458.96
-6.57
-10.8
-7.19
14.75
14.65
2.38
9,842.88
-5.15
-7.69
-2.2
12.64
13.61
2.35
% annualised returns
17.9%
The 3-year return
of L&T India
Prudence Fund is
the highest in its
category.
11.50
UTI MIS Advantage Fund
11.12
ICICI Prudential MIP 25
10.69
Franklin India Monthly Income Plan
Hybrid: Arbitrage
ICICI Prudential Equity Arbitrage Fund
3,661.15
1.29
4,728.35
1.36
3,130.61
1.28
2.82
6.98
8.35
8.53
0.87
2.91
7.05
8.32
8.45
0.89
2.87
6.86
8.14
8.35
10.63
Reliance Monthly Income Plan
9.87
Debt: Income
Kotak Medium Term Fund
1,146.71
1.68
4.07
8.73
1.69
1,256.12
1.75
3.68
8.4
0.32
4,078.55
1.59
3.72
8.22
8.87
9.2
0.28
3,270.29
1.16
3.81
7.88
9.09
0.37
1,555.58
1.36
3.56
7.85
0.44
464.17
1.47
3.54
7.79
0.55
0.37
4,944.49
1.31
3.83
7.64
10.04
9.86
1,714.02
1.16
3.38
7.23
9.31
10.11
1.94
826.51
0.98
3.62
7.14
0.48
1,004.41
0.61
3.24
5.17
9.5
9.18
1.73
825.16
0.22
3.18
5.17
9.21
9.67
1.09
15,762.98
-0.75
1.89
5.06
9.03
9.54
1.36
846.77
-1.04
1.77
2.92
10.92
10.43
0.92
8.7%
The 1-year return
of Kotak Medium Term Fund
is the highest in its
category.
% annualised returns
As on 10 Feb 2016
Tax Planning:
Cash Holdings
37.07
8.83
6.11
All equity funds, including balanced equity funds, sorted on 3-year returns; debt funds ranked on 1-year returns
DHFL
Pramerica
Tax Savings Fund
Peerless
Long
Term Advantage
Fund
UTI Long
Term
Equity
Fund
Tata
Tax Advantage
Fund
% as on 31 Dec 2015
Methodology
Next 22.5%
Middle 35%
Next 22.5%
0.28
Top 10%
Debt Income :
Lowest Expense Ratio
0.23
0.24
Bottom 10%
0.14
Reliance
Banking &
PSU Debt
Fund
UTI
Banking &
PSU Debt
Fund
JP Morgan
India
Income
Fund
Sahara
Income
Fund
HDFC
Medium
Term Opp
Fund
Mutual Funds
23
A consistent outperformer
ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals
of the fund, its portfolio and performance to help you make an informed investment decision.
BASIC
FACTS
DATE OF LAUNCH
6 Feb 2003
CATEGORY
Equity
Fund
Portfolio asset
allocation
TYPE
`38,148
Fund style
box
AVERAGE AUM
`1,288.12 cr
Category
`31,716
Large Cap
15.13%
MID CAP
BENCHMARK
Nifty 50 Index
`10,000
LARGE CAP
Index
`29,901
Feb 2006
84.87%
Feb 2008
Feb 2010
Feb 2012
Feb 2014
Nov 2015
As on 30 Nov 2015
Fund
Nifty 50 Index
Category average
WHAT IT
COSTS
NAVS*
GROWTH OPTION
`155.5
DIVIDEND OPTION
`30.63
9.77
6.24 7.50
1 year
1% for redemption
within 365 days
*As on 9 Feb 2016
3 year
-1.39
5 year
Infosys
HDFC Bank
5.68
4.31
4.06
ICICI Bank
-4.49
-5.91 -4.61
8.77
7.94
Energy
Construction
EXIT LOAD
12.27
6 month
27.26
15.26
12.37
Financial
Automobile
15.95
2.98
`5,000
2.61
10.51
Technology
`1,000
-7.56
As on 30 Nov 2015
Reliance Industries
42.47
31.39
4.26
6.76
2013
2014
Fund
Category
Index
Standard Deviation
15.35
14.00
13.94
Sharpe Ratio
0.39
0.25
0.13
12.75
10.26
8.49
35.15
3.77
6.92
INVESTMENT STYLE
Equity
97.49%
MINIMUM INVESTMENT
MINIMUM SIP AMOUNT
-4.06 -1.93
2015
4.45
-4.19 -1.81
2016
FUND
MANAGER
Harish Krishnan
As on 30 Nov 2015
TENURE: 2 YEARS
Education: MBA
Mean Return
SHOULD
YOU
BUY?
24
Smart Stats
10,851
10,824
10,824
10,814
10,814
Tenure: 2 years
DCB Bank
J & K Bank
Oriental Bank of Commerce
Lakshmi Vilas Bank
Andhra Bank
8.20
8.00
8.00
7.90
7.75
11,763
11,717
11,717
11,694
11,659
Tenure: 3 years
DCB Bank
J & K Bank
Oriental Bank of Commerce
Lakshmi Vilas Bank
Andhra Bank
8.20
8.00
8.00
7.90
7.75
12,757
12,682
12,682
12,645
12,589
Tenure: 5 years
DCB Bank
J & K Bank
Oriental Bank of Commerce
Lakshmi Vilas Bank
Andhra Bank
8.20
8.00
8.00
7.80
7.75
15,006
14,859
14,859
14,714
14,678
Tenure: 1 year
Oriental Bank of Commerce
IndusInd Bank
J & K Bank
HDFC Bank
Kotak Mahindra Bank
Tenure: 2 years
DCB Bank
J & K Bank
Lakshmi Vilas Bank
Andhra Bank
Axis Bank
Tenure: 3 years
DCB Bank
J & K Bank
Lakshmi Vilas Bank
Andhra Bank
Axis Bank
11.45 - 14.45
ICICI Bank
11.49 - 22
12.6 - 15.6
12.7
12.7- 17.8
11
12
13
14
15
16
21
22
9.9
Canara Bank
9.9 - 9.95
9.95
9
10
11
12
13
14
15
16
17
18
19
8.50
8.50
8.50
8.40
8.40
10,877
10,877
10,877
10,867
10,867
8.70
8.50
8.40
8.25
8.25
11,878
11,832
11,809
11,774
11,774
9.55
9.55
9.60
9.65
9.65
ICICI Bank
State Bank of India
Punjab National Bank
Axis Bank
Canara Bank
9.55
9.55
9.60
9.65
9.65
Punjab
National
Bank
United
Bank of
India
9.7 12.7%
9.7 11.7%
9.7 11.25%
12,946
12,870
12,832
12,776
12,776
15,378
15,228
15,080
15,043
15,043
Minimum
invt. (`)
Interest (%)
Dena
Bank
Bank of
India
Central
Bank of
India
8.4
1,500
Maximum
investment (`)
Tax
benefits
Features
NIL
Joint 9 lakh
NIL
Recurring Deposit
8.4
10
No limit
5-year tenure
NIL
Savings Account
50
No limit
NIL
8.5
100
No limit
No TDS
80C
Time Deposit
8.4 - 8.5
200
No limit
Available in 1, 2, 3, 5 years
80C*
1,000
15 lakh
80C
8.7
1,000
No limit
NIL
8.7
500
80C
9.2
1,000
80C
What `10,000
will grow to
8.20
8.00
8.00
7.80
7.75
15,006
14,859
14,859
14,714
14,678
Base rates are reference rates for all floating-rate home loans.
BANK
9.30
9.30
9.35
HDFC
Bank
State
Bank of
India
ICICI
Bank
9.50
Axis
Bank
15 YEARS
20 YEARS
25 YEARS
2,028
1,213
956
836
772
2,125
1,322
1,075
965
909
@ 12%
2,224
1,435
1,200
1,101
1,053
1,613
9.6513.25
9.6
-12.6
Interest
rate (%)
10 YEARS
Interest
rate (%)
9.55
9.55
9.60
9.65
9.65
@ 10%
2,379
20
9.8 - 9.85
Allahabad Bank
ICICI Bank
State Bank of India
Punjab National Bank
Corporation Bank
Union Bank Of India
@ 8%
@ 15%
19
9.75-10.1
9.55
9.55
9.60
9.65
9.65
18
20 YEARS
TENURE
17
Interest
rate (%)
Up to `75 lakh
ICICI Bank
State Bank of India
Punjab National Bank
Canara Bank
Corporation Bank
What `10,000
will grow to
8.70
8.50
8.30
8.25
8.25
10 YEARS
8.70
8.50
8.40
8.25
8.25
Tenure: 5 years
DCB Bank
J & K Bank
Lakshmi Vilas Bank
Andhra Bank
IndusInd Bank
Syndicate Bank
What `10,000
will grow to
1,400
1,317
1,281
Use this calculator to check your loan affordability. For example, a `5 lakh loan at 12% for 10 years will translate into an EMI of `1,435 x 5 = `7,175
9.60
9.65
9.65
9.65
Punjab
National
Bank
Bank of
Baroda
Canara
Bank
Corporation Bank
Cheapest
gold
loans
9.65
State
Bank of
Mysore
9.65
Union
Bank Of
India
9.70
9.65
United
Bank of
India
9.70
Allahabad
Bank
Bank of
India
9.70
9.70
9.70
Bank of
Maharashtra
Central
Bank of
India
Dena
Bank
Allahabad Bank
11.1 - 12.1
11.15
Andhra Bank
11.2
Syndicate Bank
11.5
10
11
12
13
14
15
16
17
18
19
Non-traditional Investments
25
Alternative investment
returns monitor
The scope and attractiveness of alternative investments is increasing. Heres a weekly tracker of returns from such investments. But dont
compare these with returns from traditional investments since the proportion and purpose of alternative investments is vastly different.
Diamond Index
20,320.1
269.81
11 Feb 2015
10 Feb 2016
3 Feb 2016
10 Feb 2016
122.02
11 Feb 2015
Coin Index
271.94
11 Feb 2015
133.57
Wine Index
15,000
11 Feb 2016
CHANGE
11 Feb 2015
0.51%
8.65%
1 WEEK
1 WEEK
1 YEAR
1 YEAR
3.19%
2.81%
1 WEEK
1 YEAR
0%
0.78%
9.84%
35.47%
1 WEEK
1 YEAR
Market price
(`)
1-week (%)
change
1-month (%)
change
1-month
average volume
(lakh)
1-month
average volume
change (%)
Market cap
(` crore)
Vertex Sec.
Chandni Text
Sun Techno O
3.14
1.08
0.30
3.97
4.85
11.11
57
42.11
25
0.29
0.51
0
186.07
1898.31
-87.41
Gayatri Suga
4.00
8.70
24.61
0.22
1.42
17.48
Info-Drive S
Atharv Ent.
PS IT Infra
Shalimar Wir
Ramsarup Ind
Cubical Fin.
0.47
5.45
7.63
5.21
2.95
5.75
14.63
0.55
9.94
-0.76
-8.10
-0.17
23.68
22.47
19.59
18.68
16.14
15.23
11.19
2.21
0.41
0.02
0.15
0.02
2.53
-46.55
-6.53
254.78
51.04
-90.75
26.28
46.33
410.19
19.59
10.35
37.46
23.16
17.43
19.58
1.82
7.55
1.99
8.22
7.69
7.83
6.24
0.86
5.76
2.58
Stock
Market price
(`)
1-week (%)
change
Safal Herbs
7.58
-3.44
Focus Indl.R
Chandni Text
Omnitech Pet
Avance Tech.
Khaitan Fert
Neha Intl.
Shalimar Wir
BLS Infotech
Sat Inds.
9.82
1.08
0.97
0.26
8.19
5.48
5.21
0.37
8.99
-10.89
4.85
-5.83
0.00
2.76
1.11
-0.76
-13.95
3.33
1-month (%)
change
1-month
avg volume
(lakh)
1-month
avg volume
change (%)
Market cap
(` crore)
-21.12
0.64
5,204.71
75.80
-9.16
42.11
-20.49
13.04
-18.02
-15.56
18.68
-5.13
-5.86
0.50
0.51
0.98
5.94
0.31
1.58
0.02
1.91
0.59
3,447.26
1,898.31
1,010.45
403.55
307.17
290.93
254.78
239.47
230.02
11.97
17.43
25.47
51.53
79.44
15.55
19.59
16.19
44.95
0
-26.52
-14.04
-37.46
-19.46
2.38
7.66
1.04
8.11
2.16
-84.57
-81.49
-81.30
-75.17
-71.94
-53.81
-49.02
-43.79
-42.80
-39.06
-38.39
-37.97
-37.68
-37.46
-37.38
10.83
2.95
1.25
6.51
2.89
5.47
1.25
2.92
8.11
1.77
-49.29
-71.72
-21.58
-47.97
-42.45
-35.04
-62.34
-71.70
-75.17
-68.05
92.31
30.20
65.99
310.80
275.40
99.05
183.16
31.70
320.72
76.02
Aadhaar Vent
Udaipur Cemn
Chromatic
JCT
Sundaram Mul
0.12
9.67
2.94
5.76
2.69
Suryach.Powr
2.77
-1.77
-27.86
1.48
-71.75
41.45
Syncom Healt
GV Films
Kailash Auto
KS Oils
7.55
0.86
1.53
1.01
-12.82
-5.49
-1.92
-11.40
-49.02
-37.68
-20.73
-33.55
2.95
2.92
1.29
3.76
-71.72
-71.70
-70.42
-70.11
30.20
31.70
89.83
46.38
The stocks have been selected using the following filters: Price less than `10, one-month average volume greater than or equal to 1 lakh and
market-capitalisation greater than or equal to `10 crore. Data as on 11 Feb 2016. Source: ETIG Database and Bloomberg
0
-9.37
-1.34
-17.48
-1.47
18.85
285.46
20.89
320.72
58.0
26
Analysts views
Fundamentals
Actual
Revenues (` cr)
Operating profit (` cr)
Net profit / loss (` cr)
EPS (`)
2013-14
1,863.22
320.98
235.51
12.49
2014-15
2,056.13
353.19
282.92
15.01
Consensus estimate
2015-16
3,240.28
972.83
688.11
35.01
Valuation
Alembic Pharmaceuticals
Lupin
Glenmark Pharmaceuticals
Alkem Laboratories
Ajanta Pharma
Divis Laboratories
PBV
12.59
9.10
5.15
5.10
13.60
7.74
PE
15.94
40.18
36.31
33.01
30.98
26.67
2016-17
3,336.33
1334.05
592.06
32.11
Dividend
yield (%)
0.59
0.42
0.28
0.00
0.46
1.96
Research house
Advice Target price (`)
Batlivala & Karani Securities
outperform
750
Nirmal Bang Securities
hold
755
JM Financial Institutional Securities buy
740
Firstcall India Equity Advisors
buy
730
ICICIdirect.com
buy
790
Karvy Stock Broking
buy
737
Relative performance
139.93
100
80.44
11 Feb 2015
Sensex
Alembic Pharma
11 Feb 2016
BUY
Stock
Research house
Advice
Market
price* (`)
Target
price (`)
Comment
Torrent Pharma
Nomura
Buy
1,266
1,787
Westlife Devt
Axis Capital
Buy
210
300
Ipca Labs
ICICI Direct
Buy
606
735
Upgrade to 'buy'. Though 2015-16 has been more or less washed out
due to a warning letter from the US FDA, increased the target price
because of improved visibility in its business outside the US.
Ashok Leyland
IDBI Cap
Buy
81
95
Britannia Ind
Motilal Oswal
Buy
2,637
3,500
SELL
Stock
Research house
Advice
Eicher Motors
J P Morgan
Underweight
PNB
IIFL
Reduce
Market
price (`)
Target
price (`)
Comment
17,627
15,450
77
70
Technology
27
GET
ANYTHING
DELIVERED
Home delivery is not a new concept,
but thanks to smart apps it has
become easier and simpler to get
things delivered to your doorstep.
Karan Bajaj takes a look at some
must have apps in this space.
GOODS
FOOD
Pyck
You can choose from a preset (documents,
electronics, clothes, books) or mention what
you want to send on this app. Just enter the
pick-up address, select a time and provide
the delivery address. A person will come to
collect the goods, pack them in their warehouse properly and send them via the cheapest and fastest courier service available.
Fassos
Fassos is a food delivery app that delivers
fresh rolls, meal combos and even desserts from its own kitchens that are located across the city. The best part is that the
minimum order is `100 and thanks to
their multiple kitchen set-up, they are capable of delivering orders within 30 to 60
minutes. Whats more, you can even earn
credits by referrals that can be used to pay
for your order.
Pickrr
Pickrr focusses on deliveries within the city
using its own team. You can choose to have
items picked up, packed and delivered in
three optionswithin 24 hours, within 4-5
hours or within 90 minutes. Delivery rates
for each option differ and you are charged
on basis of weight too. You can choose a desired pick-up time and track the package on
the app.
Swiggy/Foodpanda
Both these apps work on the same conceptdelivering food from nearby restaurants. They detect your location and show
you restaurants in the vicinity from where
you can order. While Foodpanda restricts
you with minimum order value, Swiggy
has no minimum order requirements.
GROCERY
With increase in traffic and lack of personal
time, shopping for groceries has become a
tiresome chore. But you could use these
dedicated apps to get anything delivered to
your home without bothering about parking or queues.
Grofers
Boasting of over 1.75 lakh products in its
catalogue, Grofers lets you choose stores
near your location for faster delivery. You
can schedule delivery as per your convenience and even opt to pay cash on delivery.
There is a 100% return and exchange policy
but keep in mind that the refunds come
into your Grofers account as Grofers Cash.
BigBasket
Big Basket stands apart from other similar
services thanks to its big product catalogue
and 60 minutes express delivery service.
Moreover, it has offers and discounts available on one or the other product every
week. You can schedule your delivery time
and have the option of paying via various
digital wallet as well as cash on delivery.
MISC
Zopper
Zopper helps you get the best deals on electronics from stores in your city. You just
need to search for or browse through categories to find what you want and the app
will find the store offering the best price.
You can then order it through the app. The
Zopper team will pick up the product on
your behalf and deliver it to you.
GoodService
This service has been our favourite from
day one. With a simple chat interface, you
can ask for anything to be delivered or for
any services required. It informs you of the
cost in advance so you can choose to go
ahead with the request or not.
1mg
For medicine delivery, 1mg is our recommendation thanks to its easy to use interface and prompt service. You need to upload your prescription on the app to get the
medicines delivered. It shows you a cheaper substitute with possible side effects.
Not all apps have services available in all cities.
28
Your Feedback
wealth
FRO
THE WM
EB
www.wealth.economictimes.com
BEST OF ARCHIVES
Protect your assets from disaster: You
cant stop natural calamities but you can
minimise their impact on your finances by
taking adequate insurance cover. Find out how.
Apropos of the article, Tax planning traps to avoid, every tax consultant or broker will first think of
his fat margin and guide us accordingly. One has to study investments independently before putting in hard-earned money. All
thanks to ET Wealth for highlighting these tips.
75%
NO
Malleswara, e-mail
25%
Augustus, e-mail
40%
76%
YES
Its a tax-saving
measure.
Chronic
body pain
24%
It offers financial
security net
against medical
problems.
46%
Cover is expensive.
22%
Too young to
have a cover.
17%
15%
Weightrelated
issues
18%
Hypertension
60%
Employerprovided
mediclaim
policy.
Products are
complicated.
20%
10%
Respiratory
disorders
10%
30%
Personal
plan.
Both
employerprovided and
personal
health cover.
8%
Digestive
disorders
4%
High blood
sugar levels
Source: Bajaj Allianz General Insurance survey. It was conducted among 1,100 working professionals in 23-35 year age group, in January. It covered Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Pune, Hyderabad, Gurgaon and Goa.
The Economic Times Wealth, published by Bennett, Coleman & Co. Ltd. exercises due care and caution in collecting the data
before publication. In spite of this, if any omission, inaccuracy or printing errors occur with regard to the data contained in this
newspaper, The Economic Times Wealth will not be held responsible or liable. The content hereof does not constitute any
form of advice, recommendation or arrangement by the newspaper. The Economic Times Wealth will not be liable for any
direct or indirect losses caused because of readers reliance on the same in making any specific or other decisions. Readers are
recommended to make appropriate enquiries and seek appropriate advice before making any specific or other decisions.
PUBLISHED FOR THE PROPRIETORS, Bennett, Coleman & Co Ltd by R.Krishnamurthy at The Times of India Building, Dr. D.N. Road, Mumbai 400001. Tel. No.: (022) 6635 3535,
2273 3535. Fax: (022) 2273 2544 and printed by him at (1) The Times of India Suburban Press, Akurli Road, Western Express Highway, Kandivli (E), Mumbai-400101 . Tel. No.: (022)
28872324, 28872931, Fax: (022) 28874231. (2) The Times of India Print City, Plot No.4, T.T.C. Industrial Area, Thane Belapur Road, Airoli, Navi Mumbai-400708. Tel No.: (022) 2760 9999,
Fax: (022) 2760 5275.
EDITOR: Babar Zaidi (Responsible for selection of news under PRB Act). Reproduction in whole or in part without written permission of the publisher is prohibited. All rights reserved.
RNI No.: MAHENG/2014/57046. VOLUME 03 NO. 07
Last Word
29
tive for Open Authentication) Certification, we had to put a lot of effort to be taken seriously, says Sharma. The founders
had to give umpteen number of product
demonstrations to win clients. Focus on
showcasing the product to the biggest
names in the industry, even though it prolonged sales cycle, eventually helped AuthShield gain acceptance and, thus, build
sales traction. Now, AuthShield is being
used by 50 organisations, which includes
information-sensitive institutions such as
the Defense Research and Development
Organization and National Housing Bank.
The Reserve Bank of India has reviewed
and approved the product, and could
soon start using it.
Demand for credible cyber security
products is only likely to rise, say the
founders, given the spate of cyber attacks
that are being witnessed world over.Next
generation wars will be fought in the virtual world. Countries with indigenous cyber
security products will have an edge. And
this is where we come in, says Sharma.
This bootstrapped startup is now in
talks with VC firms for funding to boost its
sales and marketing.In 2016-17, we intend
for a major sales push across the Indian
market. Subsequently, well target Sri Lanka and Bangladesh, says Wig.
Benefits of home
improvement loans
9.5-10%
Tenure: 10-15 years
Processing fee: 0.5-0.75%
Prepayment fee: Nil
Loan-to-value ratio: 75-100%
Interest rate:
30,000
Tax benefits: Up to `
cluding all other loans on that property not exceeding 80% of the market value of the property, says an
HDFC spokesperson. New customers can expect 80-90% of their repair costs to be funded by such
loans.
If you have an existing home
loan, the process is quicker, as the
lender already has your documents.
In that case, your existing property
acts as collateral, says Manavjeet
Singh, Founder and CEO, Rubique.
com, an online loan aggregator. The
loan is usually disbursed in tranches, depending on the progress of the
renovation work.
However, the loan doesnt cover
furnishing or woodwork. Movable
furniture cannot be included in the
improvement funding, says Sukanya Kumar, Director and Cofounder, Retailending.com. Further, lenders only sanction loans
for reasonable expenses. For instance, for a house worth `30 lakh,
MUMBAI
MONDAY
15 FEBRUARY 2016
www.etpanache.com
P2
ADVERTORIAL &
PROMOTIONAL FEATURE
for
KIRAN MAZUMDAR-SHAW, Chairman, Biocon Ltd
translate an
idea into an
opportunity?
Vinod Dham, the father of the Pentium processor, on the idea of a startup
bubble, big money valuations and why India should lose its service mindset
Investors want
money. Once
everybodys
investing, you dont
want to be left
behind, and so you
invest
The Intel
Pentium
processor
Sapphire
watch is a
transparent
marvel
Hublots Big Bang Unico
Sapphire will put a huge
dent in your pocket
A dusty Enzo, impounded by the Dubai police, has received no offers because
Interpol believes it was stolen or purchased with illegal money
businessinsider.in
th $6
r
o
W lion?
mil
rashmi.menon@timesgroup.com
Bloomberg
satya.kandala
@timesgroup.com
e invented the
first Pentium
processor that
made Intel the
worlds biggest
chip-maker. He then
invented the AMD
K6, popularly
businessinsider.in
Tobias Degsell
Rabindranath
Tagores slate
When Tagore (who won
the prize for literature
in 1913) was dissatised
with his writing, it was
easy to erase. We used
that slate to narrate
how Tagore used to
work, says Degsell.
It is an extra dividend when you like the girl youve fallen in love with. CLARK GABLE
variety
Time for a
status update?
So you have been
hanging out, but are
you ready to get
serious and lock it
down? Heres how
to know for sure
in.askmen.com
pursuitist.in
Gitman Bros.
woven twill tie at
gitman.com $115
Fitoor
(Drama)
Drakes
blackwatch
tartan handrolled
woven grenadine
tie at drakes.com
$178
Paul Smith
striped
wool knit
tie at saks.
com $125
J Hilburn
solid knit
tie at
jhilburn.
com $89
Deadpool
Language: Hindi
Tommy Hilfiger
corduroy solid skinny
tie at macys.com $65
Sprezza charcoal
micro-check tie at
sprezzabox.com $25
Barneys
flannel
necktie at
barneys.com
$155
Sure, you might have what you consider a friends-with-benefits relationship right now. While you like the
latter part of that deal, consider the
former. Friendship is a key indicator
in any healthy relationship, and if you
have a woman in your life who you
happen to enjoy hanging out with and
talking to as much as you like having
sex with, its apparent shes a winner
in your life. And needs to um, be come
a permanent fixture before she loses
interest in your wishy-washy ways
and moves on.
Alexander
Olch large
windowpane
wool at olch.com
$150
Calvin
Klein
king cord
solid
tie at
macys.
com $65
Brooklyn Tailors
wool flannel necktie
at brooklyn-tailors.
com $85
(Superhero)
pursuitist.in
Director:
Abhishek Kapoor
Kenneth
Cole tweed
check tie at
kennethcole.
com $55
Adar
Poonawalla
those victories with her, its a good indication that its time to claim her as
your partner. After all, shes already
acting like it.
FOR
HER
Salvatore Piccolo
striped tweed tie at
thecorner.com $145
Benedict
Cumberbatch
Bloomberg
Fitoor, an adaptation
of Charles Dickenss
Great Expectations,
while at no point letting
you down, doesnt really
soar to the heights you
expect it to.
Noor (Kapoor) is a Kashmiri
boy, interested in the arts. He
meets the horse-riding angelic
Firdaus (Kaif) and is besotted.
This comes to Firdauss mother,
Begum Hazrats (Tabu) notice,
who simultaneously encourages and snubs Noors growing
interest in Firdaus. Years later,
Noor and Firdaus again meet in
Delhi, and Noor falls in love yet
again. Will his love be reciprocated by Firdaus, who is claustrophobically watched over by
an off-her-rocker Begum?
This is a larger-than-life romance, but the scale doesnt
make up for the lack of depth.
Adapting a piece of literature
into a Bollywood film is a task
that in places, seemingly overwhelms the director. Cue to plot
changes from the classic.
Noor is reduced to the onedimensional character of an
Trumbo (Biographical
Drama)
1/2
Movie Reviews
tasneem.balapurwala@timesgroup.com
02
In Trainwreck, Amy
has a hard time
reconciling to the fact
that Aaron wants to
be in a relationship
with her
International
luxurys
Indian pivot
Poor
Average
Good
satya.kandala@timesgroup.com
tasneem.balapurwala@timesgroup.com
Very Good
Excellent
Dont sweat the petty things and dont pet the sweaty things. GEORGE CARLIN
personal
This wireless
speaker is
mind-blowing
The tech world thinks having a pet is boring and needs to be gamified
in.techradar.com
Chord Collar
Purporting to offer a unique
wearable interaction is the
Chord Collar. It is a smart collar for dogs and cats that allows
you to create an invisible fence
wherever you go. It allows a human-dog interaction entirely
led by app prompts and collar prompts making
your pet entirely remote
controlled. The tool is
only at Kickstarter
stage at the
GoPro Fetch
You can seriously i n fri nge
your pets privacy by watching
Pet Pace
Another so-called health tracker, Pet Pace is a medical collar
that claims it can let you know
if your animals off colour;
by tracking its temperature,
pulse and activity level to tell
its carer, perh ap s , when
its not well, or
at least when
somethings
d i f ferent . It
even goes so far as
to suggest it improves
clinical outcome for the
animals its attached to, potentially reducing vet bills, though it
could also encourage you to take
it to a vet more.
Wonderwoof
Fitbark
If a human sleep
t r acker i snt
enough of
a novelt y,
how about
one for
your dog?
T h a t s
t he i n s a ne
boast of FitBark,
which thinks we
shou ld approach
pets themselves as
mini fitness gadgets. The claims of
F it Ba rk a re t hat
it monitors a pets
activity so you can
work out how much
to feed it, as if the
$2,000
Disco Dog
For something a bit more fun,
theres this. While you can debate the usefulness of GPS tracking, theres no denying the lifechanging potential of the Disco
Dog LED vest. Not just a walking
billboard, but one controlled via
smartphone. Your
dog wi l l b e
the life and
soul of all
the dog
pa r-
03
gizmodo.in
More features
z Can connect two to 10
16Hz to 25kHz
digital amplication
pursuitist.in
No matter how old your tech is, someone on the internet wants it especially when it comes to smartphones and
tablets. So, the best thing you can do
is sell your old gadgets on online marketplaces. Here are some tips to get the
most cash from your old gadgets:
Keep them in as good a condition as
you possibly can. Obviously, youll get
more cash for a phone without scratches than a phone with a cracked screen.
That means you should use a case or
specific carry bags for your device.
Keep the original box and accessories. Use any spare USB power
brick and charging cable instead of
using those that came with your device. People will pay more for original
packaging and accessories, especially
if they havent been used.
If your old gadget is in great condition, take pictures of every sur-
businessinsider.in
The centrepiece of the new model series is the newly developed four-cylinder flat engine with turbocharging
Stretching
the speed
limit
Fibre optic
internet
speeds are
coming to
smartphones
in 2016
in.techradar.com
Modems arent exactly
the sexiest aspect of technology, but getting fibre
optic internet speeds on
your mobile phone is pretty
cool and thats exactly
Downloading
what Qualcomms X16 LTE
22420 mb of
Modem claims it can do.
28380 mb
Time remaining
Qualcomm says the X16 is
3 secs
able to offer download speeds
up to 1GB per second, which
is incredibly quick. At that
speed you could download a
full HD movie in less than
30 seconds. It would also
greatly improve streaming on your mobile device, making your online
79%
I think the older I get, the more I realise that the ultimate luxury is time. MICHAEL KORS
melange
LUXURY
The profile
The 11.11 has a distinctive
ver tic a l a xe bow, which
avoids upward push from
waves to create a surprisingly stable ride.
The lobby
The bow
The spa
The 11.11s spa area features a
dedicated treatment room and a
The pool
The pool on the sun deck is inspired by the spa. A second jet
pool and hang-out area can be
found on the upper deck.
SINGLE
IN THE CITY
Bloomberg
Football or cricket?
Cricket all the way.
Whats your favourite
city in the world?
New York City its a great mix
of everything.
Which TV character
would you be?
I would love to be Sherlock.
Benedict Cumberbatch killed it as
the character.
J R D Tata
G D Birla
etpanache
@timesgroup.com
A rough landing
glynda.alves@timesgroup.com
separated@birth
Billboard hit
From above
The 11.11 was built by Benetti,
the oldest luxury shipyard in the
world, having constructed boats
along the coast of Italy since 1873.
The brand considers this boat
its finest example of innovative,
luxury yacht design.
Full-height picture
windows and the absence of bulwarks
create a sense of proximity to the water.
Forty-six lights set
beneath the waterline create a magical
night-time glow.
Mumbai is currently
hosting the Make
in India week. The
aim is to attract
foreign investors
for economic development. Turns
out economic policies in the aftermath
of Independence were
quite contrary.
In fact, leading industrialists
of the time supported the state
centred model, as they believed
that a strong state intervention
was crucial for economic development. Proof of this fact can
be found in the document called
the Bombay Plan, published in
1946, said historian
Ramachandra Guha
in his talk in the city
recently.
The signatories of
t he do c u ment
were i ndustrialists and
economists of
Jawaharlal
Nehru
the time like
Angelina
Jolie
Angelina Jolie is no more a wild child and has few secrets from the
media while Esha Gupta made her debut with Raaz 2
Which TV character
do you want to date?
Serena van der Woodsen from
Gossip Girl. Blake Lively is
perfect.
`1,50,00,00,000
PIC: BCCL
Kingfisher House
The stern
n anticipation of one of
Americas most glamorous yacht conventions,
Yachts Miami Beach,
we took a photo tour of a
200-foot, privately owned Benetti
ship thats estimated to cost $73
million. Called the 11.11, it has a
top speed of 17.5 knots and its four
decks are kitted-out so that
12 guests can travel in total
luxury.
04
etpanache@timesgroup.com
PRECIOUSGIFT BOOK
businessinsider.in
New Mexico
Youll receive basic
astronaut training before
ying up into the earths
outer atmosphere,
experiencing
weightlessness before
coming back to earth.
Go on a private glacier
expedition
El Calafate, Argentina
Go glacier walking in beautiful
solitary surroundings seeing
some of the worlds most
stunning winter settings and
relax by an open re in your
luxury cabin all evening.
$200,000
$100,000
PICS: THINKSTOCK PHOTOS/GETTY IMAGES
$1,200 per lb
Jaipur, India
The bedroom and the lounge
in Shahi Mahal in Jaipur is
decorated in gold-leaf and ivory.
You can enjoy your own private
theatre and library.
Zimbabwe
Take a romantic ight over
one of the worlds most
spectacular waterfalls.
$100,000
Submerge yourself
in romance in an
underwater hotel
Fiji
Sleep under the sea in a
fully submerged hotel,
staring at the shoals of
sh above you as you
fall asleep.
Custom locket
making
Germany
Visit a gemstone cutter
and collaborate with an
award winning
jewellery designer on
your own bespoke
locket.
$600 per lb
$28,595
Do diving for
diamonds
$5,000
Miami, USA
Enjoy a romantic Evian
Bath (with 1,000 bottles
of Evian!), chocolate
cake, champagne and
two further spa
treatments