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Volume 2, Issue 6
CHAANAKYA
..Tracking the Economy
Good management consists in showing average people how to do the work of superior people. John D. Rockefeller Issue Attractions
National Headlines International Headlines Corporate Interview Quiz Student Editorial Investors Check/Tag lines/Buzz Word/Logos 1 1 2 2 3 4
National Headlines
Daiichi Sankyo, Japans third-largest pharmaceutical company, is to take control of Ranbaxy Laboratories, Indias biggest generic drugs maker, in a cash deal worth up to $4.6bn. It is the biggest acquisition of a listed Indian company.
Country's economy is expected to grow 8.5 per cent in the fiscal year ending March 2009, Finance Minister Palaniappan Chidambaram said. Growing literacy and new technology have resulted in India emerging as the second largest newspaper market in the world, according to latest research by the World Association of Newspapers (WAN).
Indian business titan Ratan Tata, already named among the world's most influential business people from India, has now made to a list of 30 most powerful in the British construction space.
15 days Movements
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Great Eastern (GE) Shipping, Indias largest private sector shipping company, is rapidly expanding its fleet size. The standalone entity has crude, product and LPG carriers The market capitalisation of Cairn India has risen 18% since the beginning of May 08, against the 7.5% fall in the BSE Sensex during the same period. Credit Suisse entered into the high growth business segment of wealth management, targeting high net worth individuals, Credit Suisse Head of Wealth Management Puneet Matta in Mumbai said.
Sensex
(June 1-15)
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Bharat Heavy Electricals Ltd. has proposed the setting up of a joint venture in Egypt for manufacturing utility and industrial boilers with an investment of $250 million.
Rs/$
(June 1-15)
International Headlines
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Yahoo Inc said that talks with Microsoft Corp on a partnership or other type of deal have concluded without an agreement, sending Yahoo shares down 13 percent. InBev began courting Anheuser-Busch owners and staff and its stock rose strongly after it made a $46.3 billion bid to add Budweiser to its own Stella Artois and Beck's beers and create the world's largest brewer. General Motors Corp's head of European operations said rising oil prices, high commodity costs and the strength of the euro could drive European sales down to levels not seen in decades. Merrill Lynch CEO John Thain said that if it raised more capital, it would consider selling its stakes in news and financial data company Bloomberg and money manager BlackRock. A steady rise in energy prices has fueled an inflationary psychology in the United States and could be a problem if it does not reverse, Federal Reserve Vice Chairman Donald Kohn said.
Gold
(June 1-15)
6000 5900 5800 5700 5600 5500 5400 5300 5200 5100 31 2 3 5 6 7 9 10 11 12
Oil
(June1-15)
Oil(per bbl)
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Quiz
1. Name the style of management associated with mutual and exchange-traded funds (ETF) where a fund's portfolio mirrors a market index. 2. What is the name given to a slight competitive advantage that one company enjoys over competing firms operating in the same or similar type of industry? 3. What is the term used to describe the risk that the income stream paid by a fund will decrease in response to a drop in interest rates? 4. Name the term used to describe an irrefutable takeover offer made to a target company by an acquiring company, if the target company's management refuses the offer, shareholders may initiate lawsuits or other forms of revolt against the target company for not performing their fiduciary duty of looking out for the best interests of the shareholders. Today, a skilled manager makes more than the owner. And owners fight each other to get the skilled managers. Mikhail Khodorkovsky, Russian Businessman
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A MESSAGE FROM PROF. T.S. RAMACHANDRAN FOR THE FIRST YEAR MBA STUDENTS:
CHAANAKYA, is a fortnightly news letter by the finance students of CCIM and is intended to benefit the student community of Christ College at large. It is an initiative by the students and for the students and hence worth a lot. I am very glad to note that from this issue onwards it will reach more mail boxes of the students. I am very proud to say that CHAANAKYA is released every month on 1st and 16th, rain or shine. My appeal to all the students would be that, if CCIM is training ground for the future managers, this is the game you need to play by participating actively by writing articles and reading CHAANAKYA every fortnight and keeping yourself updated.
The note with the most zeros is a Y u g o s l a v i a 500,000,000,000 Dinara, issued in 1993 with 11 zeros. The highest marginal rate of personal income tax in In d i a was 42.5 percent in FY 1992. Wall Street gets its name from a defensive wall that was put up to protect New Amsterdam (now New York) from New Englanders.
If we go by the 2002 and 2008 oil prices changes, the application of the price relative for crude would imply a present Indian retail price of Rs 175, which is way above the current Rs 50.51.
Answers To Quiz The Committee on Pricing and Taxation of Petroleum Products under the Chairmanship of Dr C. Rangarajan, submitted its report to the Government. The following principles were adopted by the Committee: 1. Passive strategy"
Pricing and taxation of petroleum products should be rationalised to transmit the right price signals so as to minimise, if not eliminate, distortions and inefficiencies that result in misallocation of resources;
or "passive investing" or "index investing." 2. Narrow Moat 4. Godfather Offer Stock Ratnas CAIRN INDIA, BSE 532792, NSE CAIRN, CMP- Rs. 285.10 TARGET PRICE RS 340 THERMAX, BSE- 500411, NSE THERMAX CMP- Rs. 413.00 TARGET PRICE: RS.480
Prices of petroleum products should, as far as possible, be aligned with international 3. Income Risk prices; Across-the-board subsidies result in inefficiencies and place an undue burden on an already strained fiscal situation; Subsidies should be minimal, targeted and restrained by a monetary ceiling; To the extent the Government decides to extend subsidies, the burden should be borne entirely and transparently in the Budget; Oil marketing companies should be freed from the burden of subsidy; Customs tariff on crude and products should be rationalised so as to moderate the effective rate of protection to a level that will offset the disadvantages suffered by the domestic producers without, at the same time, allowing them any undue cushion. Excise tariffs should be restructured to protect the consumers from excessive volatility in prices.
As oil prices continue their seemingly endless trek skyward, the whispers about peak oil SHRIRAM TRANS FIN, have turned into a roar. Peak oil is the hypothetical date when the combined daily output BSE 511218 of global oil producers has reached its maximum and then begins to decline. Essentially, NSE SRTRANSFIN this is the point where supply starts to move downward, while demand continues to climb. You don't need to be an economics major to figure out what the effect on prices CMP- Rs. 302.75 will be. TARGET PRICE: RS RS.344
(CMP Current Market Price) Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them. W. Edwards Deming
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Tag Lines:
SENDING SO MUCH MORE THAN MONEY/UNITING PEOPLE WITH POSSIBILITIES/THE FASTEST WAY TO SEND MONEY WORLDWIDE - WESTERN UNION THINK. FEEL. DRIVE. SUBARU CARS MORE THAN JUST ECONOMICS/FREE ENTERPRISE WITH EVERY ISSUE THE ECONOMIST THE DAILY DAIRY OF THE AMERICAN DREAM WALL STREET JOURNAL ALL THE NEWS THATS FIT TO PRINT NEW YORK TIMES NEWSPAPER
A.
B.
A. Royal Bank of Scotland B. Bank of Credit and Commerce International (BCCI) C. Barings Bank D. Bank of America
C.
D.
Buzz Words
GEMs (growing-equity mortgages) Mortgages in which annual increases in monthly payments are used to reduce outstanding principal and to shorten the term of the loan. Active portfolio strategy A strategy that uses available information and forecasting techniques to seek a better performance than a portfolio that is simply diversified broadly. Direct quote For foreign exchange, the number of U.S. dollars needed to buy one unit of a foreign currency. Economic exposure The extent to which the value of the firm will change because of an exchange rate change.
Quotes:
Let's assume that each person has an equal
opportunity, not to become equal, but to become different. To realize whatever unique potential of body, mind and spirit he or she possesses. John Fischer "Emptiness is a symptom that you are not living creatively. You either have no goal that is important enough to you, or you are not using your talents and efforts in a striving toward an important goal." Maxwell Maltz
Contributions made by :
Logos, Taglines & Editing Did you know, Quotes Stock Ratnas, Quiz News Graphs Investors Check Interview & Article Book Quotes, Buzz Word Coordination Arihant Patawari Fouzia Taranum B Sukrutha Lavanya Fouzia Taranum B Gnana Devi Diwakar Grover Sasmit K Sahu Nikhil Mehta Manish Sinha