<keyword id="201453" type="General" weightage="50" keywordseo="sterlite-technologies-ltd" source="Orion">Sterlite Technologies Ltd</keyword> on Sunday unveiled <keyword id="764355" type="General" weightage="20" keywordseo="5G" source="Orion">5G</keyword> Cosmos - an optical solution for towers and small cells for speedy 5G roll out. According to <keyword id="48217" type="General" weightage="100" keywordseo="sterlite-technologies" source="Orion">Sterlite Technologies</keyword>, telecom operators need to look at fiberisation with a futuristic lens. The company said tower fiberisation must increase from about 35 per cent to 80 per cent to provide high quality 5G services. Additionally, 5G will require upto 4X small cells, backhauled with fibre, Sterlite Technologies said. The company said India's fibre space is constrained by deployment speed and scale. 5G Cosmos is an Atmanirbhar, patented solution that can solve these challenges and connect every tower, small cell and node, the company claimed. Launching 5G Cosmos at IMC 2022, Pankaj Miglani, Director <keyword id="6699920" type="General" weightage="50" keywordseo="supply-chain-management" source="Orion">Supply Chain Management</keyword>, <keyword id="6354287" type="General" weightage="50" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>, said: "We are readying our infrastructure for 5G and fiberisation is a core need. We are happy to see the use cases that 5G Cosmos can solve for telcos and enable us to deliver a great 5G experience to our customers." Ankit Agarwal Manaing Director, Sterlite Technologies said: "Indian telecom operators are ready to install fibre-dense networks for 5G. This will need an integrated and futuristic solution. We have built 5G Cosmos to enable fiberisation of macro and small cells at scale and achieve the full potential of 5G." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/suzlon-energys-founder-chairman-tulsi-tanti-passes-away-due-to-cardiac-arrest/articleshow/94596261.cms">Suzlon Energy’s founder chairman Tulsi Tanti passes away due to cardiac arrest</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-to-add-80-airports-in-next-4-5-years-new-rules-for-aerodromes/articleshow/94596625.cms">India to add 80 airports in next 4-5 years; new rules for aerodromes</a>

Sterlite Technologies launches optical solution for 5G rollout

<keyword id="28423" type="General" weightage="80" keywordseo="vedanta" source="Orion">Vedanta</keyword> Ltd has decided to put its 4,00,000 ton per annum (tpa) <keyword id="437023" type="General" weightage="100" keywordseo="copper-smelter" source="Orion">copper smelter</keyword> plant and refining complex at <keyword id="6354388" type="General" weightage="80" keywordseo="tuticorin" source="Orion">Tuticorin</keyword> for sale. The copper smelter plant complex is known as <keyword id="1622540" type="General" weightage="50" keywordseo="sterlite-copper" source="Orion">Sterlite Copper</keyword>. The company along with Axis Capital has called for Expression of Interest (EoI) for its smelter complex (primary and secondary), sulphuric acid plant, copper refinery, continuous copper rod plant, phosphoric acid plant, effluent treatment plant, 160 MW captive power plant, reverse osmosis units, oxygen generation unit and residential complex with amenities. However, an environmental activist, who is against the Copper Smelter plant, wondered whether the company can sell the plant when a case is pending in the <keyword id="6354977" type="General" weightage="50" keywordseo="supreme-court" source="Orion">Supreme Court</keyword>. The decision came as a surprise to many as the company was saying that it would reopen the plant. According to Vedanta, the plant produces about 40 per cent of the country's demand for copper and contributes about Rs 2,500 crore per annum to the exchequer and 12 per cent of Tuticorin Port's revenue. Curiously last March, Vedanta came out with an EoI about its decision to set up a 500,000 tpa copper smelter plant in a coastal region in India. The company has sought expression of interest from coastal states wishing to partner in the project that would have an investment potential of about Rs 10,000 crore through a newspaper advertisement. According to Vedanta, the proposed project would need about 1,000 acre in proximity to port along with logistics connectivity with conveyor/corridor of rail and road to handle five million tpa material movement on both in-bound and out-bound sides. The company said the project has a potential to provide direct and indirect employment to 10,000 people and will contribute about Rs 3,000 crore to the government treasury as taxes and others. Senior officials were not available to reply IANS query whether the company is exiting Tuticorin. Later in a statement, the company said India's copper requirements are set to grow exponentially in the coming years. Having ample supplies of copper is critical to ensuring successful implementation of new-gen technologies such as electric vehicles, rapid automated transport and clean energy, the company said. "We are, therefore, actively on the lookout for a suitable partner state to help take forward the vision of an Atmanirbhar Bharat and ensure that our nation enjoys unfettered access to copper, through a state-of-the-art copper manufacturing plant, the operational and environmental parameters of which are comparable to the best in the world," Vedanta said. According to Vedanta, the closure of Tuticorin copper smelter plant has had a ripple effect in terms of imports and livelihoods. "Post closure, India has become a net importer of copper for the first time in 18 years, with copper imports growing 3X while exports have plunged by 90 per cent. We are continuing to explore all legal avenues towards achieving a sustainable solution to the closure," the company had said. The <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> government had ordered the copper smelter plant to be shut down in 2018 following a violent protest that led to the death of 13 persons in police firing. The 4,00,000 ton Sterlite Copper smelter plant that has been operating in Tuticorin for over 25 years with a cumulative investment of about Rs 3,000 crore. However, from the start, Sterlite Copper smelter plant has been facing protests by the local people alleging that it pollutes the environment. Originally, the plant was planned in Goa, but it faced severe opposition from the state's people. However, the AIADMK regime under J. Jayalalithaa gave a warm welcome to the project and allotted land at Tuticorin. Ever since then the plant was in the eye of a storm with MDMK leader Vaiko leading a protest against the project and later filing a case. The major political parties in Tamil Nadu -- AIADMK and DMK -- are against Vedanta's copper smelter plant in Tuticorin. The Supreme Court is hearing the case on an appeal filed by the company against the Madras High Court's refusal to reopen the Sterlite Copper smelter plant in Tuticorin. Reacting to the latest advertisement Fatima Babu, one of the persons who had filed a case against Sterlite Copper told IANS: "It has to be seen whether the company can sell the plant when a case is pending in the Supreme Court. There seems to be a hidden agenda in the advertisement as it makes several claims like state-of-the-art plant and others." "Our stand is clear. The copper smelter plant should not be in Tuticorin whether under the name Sterlite Copper owned by Vedanta or by any other owner," she said. She added that if Vedanta wants to set up a new copper smelter then it can do so by complying with the law anywhere else. ALSO SEE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/i-read-an-ex-apollo-partners-tell-all-book-about-the-inner-workings-of-private-equity-and-was-perplexed-and-ultimately-disappointed/articleshow/92321043.cms">I read an ex-Apollo partner's tell-all book about the inner workings of private equity and was perplexed — and ultimately disappointed</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/wall-street-coinbase-flew-too-close-to-the-sun/articleshow/92283604.cms">Wall Street: Coinbase flew too close to the sun</a>

Vedanta puts its copper smelter plant in Tuticorin on sale

New Delhi, Dec 10 () Optical fibre maker Sterlite Technologies on Tuesday said it has entered into a pact with Indian Institute of Technology Madras for research and advancements in 5G communications technology in the country.
 "Sterlite Technologies Ltd (STL)...has signed a memorandum of understanding (MoU) with Indian Institute of Technology Madras...for sponsoring a chair professorship in 5G," the company said in a filing to BSE.
 Announcement of the first occupant of the Chair Professorship will happen in the first quarter of 2020.
 "Through this partnership, STL and IIT Madras are committed to realise the enormous potential of 5G for customers and industry in India and global markets," said Badri Gomatam, Group CTO, STL.
 The Chair Occupant will work towards accelerating the advancements in 5G by unifying IIT Madras' research and domain knowledge with STL's industry expertise in 5G and end-to-end network connectivity, the filing added.
 "The initiative will play a critical role in boosting innovation and developing young talent in the 5G domain. With industry and academia getting together, this collaboration can be a cornerstone in discovering unique opportunities and making industrial relevance more prominent in academic research," said David Koilpillai, Head, Department of Electrical Engineering, IIT Madras. SID DRR

Sterlite Technologies, IIT Madras sign pact for 5G advancement

New Delhi, Jan 9 () Sterlite Technologies Ltd (STL) on Thursday said its subsidiary has entered into definitive agreements to acquire 12.8 per cent stake in Israel-based ASOCS. 
 "Sterlite Global Venture (Mauritius) Ltd, a wholly owned subsidiary of STL, has entered into definitive agreements to acquire 12.8 per cent stake (on issued and outstanding basis) in ASOCS, a vRAN (virtual Radio Access Networks) technology company based out of Israel," a regulatory filing said.
 ASOCS provides solutions for enterprise and telco-networks, it added.
 "Acquisition of the shares of investee company is done at a mutually agreed pre-money valuation. The said valuation is not disclosed herein due to reasons of confidentiality," it said.
 The cash consideration will be paid in two tranches - one as on date and one in May 2020.
 The investment strengthens the company's offering in the promising and fast growing virtualised radio access space, the filing added.
 The joint solution of STL and ASOCS will empower mobile network operators to build best-in-class networks and enable them to build vendor-neutral, autonomous mobile networks using 5G radio, SDN, NFV and AI technologies, STL Group CEO Anand Agarwal said.
 "We are incredibly excited to invest in ASOCS and believe that the partnership will enable STL and ASOCS to bring end-to-end capabilities for a converged network (i.e. both wireless and wireline) to market. Together, we can offer full stack solutions to enterprise and telco customers, including STL's services and system integration capabilities," he added. SR RVK

Sterlite Technologies subsidiary to acquire 12.8 pc stake in Israel-based ASOCS

<img class="gwt-Image" src="/photo/49074757.cms" style="width: 800px; height: 600px;" /> 
 
SKS MICROFINANCE LTD: Top microfinance lender rose 1.3 percent to 396.80 rupees after it slashed its borrowing rates for customers to 20.75 percent from 22 percent earlier. This is the third cut since October 2014. 
 MOTHERSON SUMI SYSTEM LTD.: Top auto ancillary maker jumped 3 percent to 248.65 rupees after the company management assuaged investors fears on the possible fallout of <keyword id="6361865" type="CITY" weightage="80" keywordseo="Volkswagen">Volkswagen</keyword>'s problems with US transport regulators on its emission-related issues. Volkswagen is among Motherson Sumi's major customers in Europe. 
 DISHMAN PHARMACEUTICALS LTD.: Gained 16.5 percent to 307.80 rupees after the drugs major got a license to manufacture a drug aimed at curing Tuberculosis from a unit of <keyword id="92247" type="COMPANY" weightage="80" keywordseo="Johnson-Johnson">Johnson &amp; Johnson</keyword>. 
 <keyword id="384128" type="COMPANY" weightage="80" keywordseo="Sterlite-Technologies-Ltd-">STERLITE TECHNOLOGIES LTD.</keyword>: Rose 3 percent to 83 rupees after the company said it acquired an overseas firm for 180 crore rupees, an amount that would be funded through internal accruals. 
 <keyword id="252427" type="COMPANY" weightage="80" keywordseo="Amtek-Auto-Ltd-">AMTEK AUTO LTD.</keyword>: The debt-laden company rose 1.2 percent to 46.55 rupees on news reports that banks were in the process of restructuring some of its enormous debt pile in a bid to kickstart interest payments from the auto ancillary major 
 
IDBI LTD.: Mid-sized Public sector lender jumped 11 percent to 74.35 rupees, its fourth day of gains, on persistent market expectations that the government will take steps to re-organize its majority control in the bank's equity capital in a manner that will make the lender more flexible in terms of conducting business. 
 
Image credit: Indiatimes

Get to know which five stocks are doing well in markets today!

New Delhi, Apr 19 () Broadband technology provider Sterlite Technologies has resumed around 65 per cent production of its global capacity with start of operations in China, India and Italy, a top official of the company said.The manufacturing activity of Sterlite Technologies Ltd (STL) has been hit due to the ongoing coronavirus crisis."We have resumed our full production capacity in China now. In Italy also we have just re-started manufacturing activity. India plant is also partially operational. In total, we are operating at 60-65 per cent level. It will take some time to come back to normal," STL group CEO Anand Agarwal told . Globally, optical fibres and optical fibre cables (OFC) have increased due to advancement in technologies. OFCs are replacing old copper telecom cables to provide high speed broadband services. Many plants in China and Italy were shut because of the coronavirus crisis. India has extended lockdown till May 3 to check the spread of coronavirus. The death toll due to the virus was near 500-mark and the number of cases was around 15,000 in the country, according to official government data. Sterlite has 1.4 crore route kilometer (rKm) optical fibre production in China and 3.6 crore km capacity in India."Between India and China factory, we are now producing 3 crore rKm of optical fibre out of total capacity of 5 crore," Agarwal said.The company has optical fibre cable (OFC) production capacity of 1.8 crore rKm jointly in India, Italy and Brazil."Out of 1.8 crore capacity for OFC, we are producing around 1.1 crore rKm," Agarwal said.He said that most of the shipments at the moment are happening for urgent network requirements and repair work. This shipment excludes the company's order book of around Rs 8,000 crore. "Operations in India have just started. it will take time to come back to normal. Silver lining during this situation is that people are digitally connected. Despite of increase in load, networks have been operational," Agarwal said.According to industry data, load on broadband networks in the country has increased by about 20 per cent during the lockdown period due to organisations mandating most of the employees to work from home to prevent spread of coronavirus infection. Agarwal said that the load of business organisations has now shifted to mobile and public networks and still there has been no network breakdown. "The nature of this load is different from mobile load. Mobile was mostly about downloading videos. It is now a two way load. People are now video conferencing. Everything has to be in real time. Those discussions have started with most of the telecom operators," Agarwal said. PRS MKJ

Covid-19: Sterlite Tech operating at 65% global production capacity

New Delhi, Mar 29 () Metals and mining magnate Anil Agarwal has for the first time taken a board position on his flagship Indian firm, Vedanta Ltd, replacing his brother Navin.Agarwal, 66, who turned a tiny scrap metal business into a mining conglomerate, had so far headed the board of London-headquartered Vedanta Resources.The Indian flagship Vedanta Ltd houses its oil and gas, aluminium, power, iron ore, steel and copper business.In a statement, the company said Agarwal has been appointed "as the non-executive chairman of Vedanta Ltd".He replaces his brother Navin, who will now be the Executive Vice Chairman of the Board.The changes followed chief executive officer S Venkatakrishnan resignation. He was replaced by Sunil Duggal, current head of Vedanta unit Hindustan Zinc Ltd."The company will be run by a management committee comprising of CEO, CFO, CHRO and CCO who will take all key decisions collectively under the guidance of Chairman," the statement said.Besides the Agarwal brothers, Vedanta Ltd also has Anil's daughter Priya as a board director. His trusted lieutenant Tarun Jain is also on the board.Former Hindustan Unilever executive Arun Kumar GR is Chief Financial Officer.Anil Agarwal's other listed firm Hindustan Zinc Ltd is headed by his wife Kiran. He is the non-executive chairman of Sterlite Technologies Ltd, the only other Indian listed company in the group.All other group firms, Cairn Oil and Gas, Sterlite Cooper, Balco, Sesa Goa Iron Ore, Vedanta Aluminium and Electrosteel Steels Ltd are headed by chief executive officers.Ethnically a marwari from Patna, Agarwal came down to Mumbai as a scrap dealer in 1976 and went on to build an empire in copper, zinc, aluminum and iron ore. A school dropout, he founded Vedanta Resources and has been its Executive Chairman since March, 2005.In October 2018, Agarwal took Vedanta Resources private after paying more than USD 1 billion for the one third of the metals firm that he didn't already own.In 2017, he bought a 19 per cent stake in London-listed miner Anglo American through his family trust and sold it in 2019.Vedanta has previously stated that it would invest Rs 60,000 crore expansion of its zinc, silver and oil and gas business. ANZ BALBAL

Anil Agarwal for the 1st time takes board position on Vedanta Ltd

New Delhi, Dec 26 () Leading stock exchange BSE on Thursday said eight companies, including Bharat Heavy Electricals Ltd, Housing Development Finance Corporation Ltd (HDFC), Kotak Mahindra Prime Ltd, have filed applications with the exchange to list their commercial papers (CPs).
 Tata Steel Ltd, Sterlite Technologies Ltd, Vardhman Special Steels Ltd, Kotak Mahindra Investments Ltd and Tata Steel BSL Ltd are the other companies that filed applications to list their CPs with exchange.
 Post process, the effective date of listing for CPs at the exchange will be December 27, BSE said in a statement.
 A total of 32 issuers have done 74 issuances of CPs and have successfully listed CPs of Rs 27,484 crore on BSE till date. The weighted average yield of these issuances is 5.49 per cent with an average tenor of 126 days, the BSE noted.
 BHEL, HDFC, Kotak Mahindra Prime, Tata Steel Ltd, Sterlite Technologies, Vardhman Special Steels, Kotak Mahindra Investments and Tata Steel BSL made an application to list commercial paper at BSE for an issue size of Rs 1,150 crore, Rs 1,000 crore, Rs 575 crore, Rs 500 crore, Rs 100 crore, Rs 80 crore, Rs 75 crore and Rs 75 crore, respectively, the exchange said.
 Commercial paper is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors. 
 Such instruments can be issued for maturities between a minimum of 7 days and a maximum of one year from the date of issue.
 CPs are usually issued at a discount from face value and reflect prevailing market interest rates. AST SP 
RVK

BHEL, HDFC, Kotak Mahindra, 5 others to list commercial papers on BSE

New Delhi, Apr 29 () Industry body TAIPA on Wednesday said it has urged BSNL to clear "huge" outstanding dues of infrastructure providers, in order to maintain continuity of telecom operations at state-owned operator's tower sites, amid the coronavirus outbreak.The Tower And Infrastructure Providers Association (TAIPA) has also urged Telecom Secretary Anshu Prakash for an urgent intervention to get these outstanding dues cleared."TAIPA...body of Telecom Infrastructure Providers Category – I (IP-1)...has written to PK Purwar, Chairman and Managing Director, BSNL requesting for clearing huge outstanding dues of its IP-1 members for maintaining 24X7 continuity of telecom operations at BSNL tower sites...," the association said in a statement.TAIPA rued that its members are facing huge cash crunch which is leading to multiple challenges in ensuring smooth operations on telecom tower sites of BSNL in the backdrop of coronavirus pandemic.These problems pertain to difficulty in payment of rentals to landlords, challenges in operation and maintenance (O&amp;M) expenses for running of BSNL tower sites, and impact on procurement of diesel/batteries and other back-up storage devices for telecom towers sites of the telecom PSU."Landlords (of the lands )where BSNL sites are installed have been demanding the payment of rentals and threatening coercive action," TAIPA said.Other challenges include maintaining the uptime as per service agreement for Bharat Sanchar Nigam Ltd (BSNL) tower sites, which is leading to network outage and blackouts in nearby areas of the sites.Elaborating on the issue, TR Dua, Director-General, TAIPA said, "We have once again requested...Chairman &amp; MD, BSNL for an urgent intervention for clearing the full outstanding dues of our IP-1 members at the earliest which will support in resolution of...issues to ensure uninterrupted telecom operations and network connectivity of BSNL tower sites across the country..." TAIPA's members include key players in the telecom infrastructure sector including Indus Towers, ATC Group Companies, Bharti Infratel, GTL Infrastructure, Reliance Infratel, Tower Vision, Sterlite Technologies and Space Teleinfra. MBI ANUANU

TAIPA urges BSNL to clear outstanding dues of telecom infrastructure providers

<img class="gwt-Image" src="/photo/56890025.cms" />The 11th edition of E-Summit - a two-day national event held at IIT-Bombay, came to a close with a bang. 
 
Apart from a stellar line-up of speakers, there were many more exciting events happening at the summit, that not only reinforced the spirit and zeal of entrepreneurship but also provided an enriching experience to the attendees. 
 
Events like eureka- a business model competition, the 10 minute million competition, startup expo — a platform for innovative start-ups, internship and job fair, business conclave and innovation conclave were a part of the summit. 
 
Eight teams of young entrepreneurs presented their business strategies in 10 minutes each at the IIT-Bombay e-summit. In the end, four among them split the prized investment money. 
 This year’s panel of angel investors included heavyweights such as <keyword id="2715428" type="UNKNOWN" weightage="20" keywordseo="Ajeet-Khurana">Ajeet Khurana</keyword> – CEO, SINE IIT Bombay; Kunal Shah, founder and CEO, Freecharge; Anupam Mittal – founder and CEO, People group; Sanjay Mehta – director, Core media group; V C Karthic- founder of Buzzworks Business Services; Taha Nabee — Vice President, Sales and Distribution, Aromatan Cosmetics; Suketu Shah – JMD Mukand Ltd, Samir Shah – founder director, Sattva Asia opportunities funding; Bharat Banka of Sterlite technologies Ltd; Devesh Chawla founder and CEO of Chatur ideas; Srinivasan Swamy, CFO, Bridge; Anand Ladsariya – founder, Everest Flavour; Suneel Bandhu – COO, Tata Teleservices; Vikram Chachra – founding partner of Eight Innovate; <keyword id="875259" type="COMPANY" weightage="20" keywordseo="Manish-Gandhi">Manish Gandhi</keyword> of Asian Business exhibitions and conferences ltd and Miten Mehta of social impact ventures. 
 
One of the speakers was Niti Aayog CEO Amitabh Kant spoke about the challenges and the opportunities that the country provides startups. The previous editions of E Summit have been graced by Uber CEO <keyword id="1739133" type="UNKNOWN" weightage="20" keywordseo="Travis-Kalanick">Travis Kalanick</keyword>, UIDAI chief <keyword id="44604" type="PERSON" weightage="20" keywordseo="Nandan-Nilekani">Nandan Nilekani</keyword>, Mr. Adi <keyword id="6369697" type="COMPANY" weightage="20" keywordseo="Godrej">Godrej</keyword>, patriarch of the Godrej clan and Yes Bank MD Rana Kapoor among the few renowned names. 
 
Highlights of the event: 
 
1. Eureka! 
Asia's largest Business Model Competition was held on the first day of E-Summit '17. Eureka! is a year long competition with entries pouring in the entire year. This year, E-Summit had received 10000+ entries competing for prizes worth Rs 5 million. 
 
2. <a href="http://www.businessinsider.in/10-startups-to-battle-it-out-for-rs-15-lakh-on-the-spot-funding-and-mentorship-as-iit-bombays-e-summit-kickstarts/articleshow/56376153.cms">The 10 Minute Million</a> 
Startups were exposed to panel of investors ready to shell out Rs 1.5 Million in just 10 Minutes! 
 
3. iHack 2017 
India's best coders, developers, designers, innovators, creators and entrepreneurs were brought together. 
 
4. Start-up Expo 
Start-up Expo allowed innovative start-ups from all over the country to get in touch with thousands of potential customers and investors while attendees learnt the technique of what made a start-up so big. 
 
5. Lean Start-up Workshop 
Lean Start-up workshop was an intensive three-day workshop which taught entrepreneurs and innovators how to build disruptive products using Lean Start-up methodologies. 
 
6. Internship and Job Fair 
The Internship and Job Fair connected start-up enthusiast graduates/undergraduates to the start-ups so that they could get relevant experience in their desired field. 
 
7. Business Conclave 
This was an initiative targeted for professionals to give them updates about their specific industry by experts and also a platform to promote intra-networking.

Here's all that unfolded at IIT-Bombay's crazy e-summit

<img class="gwt-Image" src="/photo/47968350.cms" /> The <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword> is likely to remain firm but in a sideways trend on Tuesday despite strong Asian cues. Some local buying is likely to spill over from the previous day as investors look for beaten down valuations after the markets overcame the Greek-EU vote. 
 
The forthcoming earnings season, starting with TCS later this week, and the spread of the monsoon are likely to impact markets in the short term. The Nifty is likely to face resistance at 8,570 levels on the upper side, while no long positions should be held if the Index dips below 8,420 levels. However, foreign institutional investors were net sellers on Index futures on Monday, pointing to the possibility of a slight dip on the Nifty today. 
 
Stocks closed in positive territory yesterday, led by export-oriented software, pharma and textiles companies, as the bulls took advantage of a gap down opening on the Nifty to buy into lower prices. This action is likely to be followed up in trade today. 
 
STOCKS TO WATCH: 
 
NETWORK18 MEDIA AND INVESTMENTS: Promoter Reliance Industries Ltd. said it will sell 3.25 crore shares, or 3.12 percent stake, in the company to bring its aggregate holding down to 75 percent as per government regulations. The sale will fetch roughly 204 crore rupees. 
 
POWER GRID CORPORATION: Clears 2,247 crore rupee investment plan for the third phase of interstate electricity transmission project 
 
STERLITE TECHNOLOGIES: To bid for a defence contract worth 7,000 crore rupees. 
 
PAINT STOCKS: Asian Paints, Akzo Paints, Berger Paints and Shalimar Paints etc are likely to enjoy the bounce thanks to muted crude oil prices that form a large percentage of their raw material costs. 
 
CEAT TYRES, J K TYRES: Buying may resurface on such beaten down companies owing to muted crude oil prices. Tyre companies use a lot of crude intermediates as their raw materials. 
 
(Image credit: Indiatimes)

5 companies to watch
out for in the markets today

<img class="gwt-Image" src="/photo/47688391.cms" />In traditional Indian method, sons and daughters of a company’s owner take up top posts and the succession goes on. However, <keyword id="894518" type="UNKNOWN" weightage="100" keywordseo="Vendanta-Group">Vendanta Group</keyword>’s owner Anil Agarwal wants to do away with the system and has planned something else. 
 
The founder of the $12.9 billion Vedanta group wants to appoint professional managers rather than kin to top posts. 
 
"As far as succession goes, I am still in command and I am getting all professional chief executives as I do not want a family member to be chief executive of the company," Agarwal, 61, said in an exclusive interview to Economic Times. 
 
"I believe this company should be run by the people. At the same time, family members also bring in some value,” he said. 
 
The financial daily reported that Agarwal, who rose from being a metal scrap dealer to build India's largest natural resources company in the past five decades, has two children-Agnivesh and Priya. His brothers Navin and Pravin, closely associated with Vedanta, also have two children each. 
 
Agnivesh is chairman of Hindustan Zinc, while Priya has been on the Cairn India board as non-executive director since 2012. 
 
Based in Dubai, Agnivesh runs his own business recovering metal from scrap and also manages group unit Fujairah Gold. The United Arab Emirates is also home to the group's precious metals refinery that can process 50 million tonne of gold and 110 million tonne of silver annually. 
 
Agnivesh also acquired a 60% stake in Chennai-based medical diagnostic chain Primex Healthcare in 2012 in his personal capacity. 
 
Priya has been a public relations professional with Ogilvy &amp; Mather and spearheaded the media campaign that sought to give a more friendly aspect to the controversial resources and mining major. 
 Navin is non-executive director of Vedanta Ltd, a subsidiary of the London-listed <keyword id="99389" type="CITY" weightage="80" keywordseo="Vedanta-Resources">Vedanta Resources</keyword>, of which Anil Agarwal is chairman emeritus. Navin has two sons--Naivedya and Ananya. Pravin Agarwal is a whole-time director of Sterlite Technologies, one of India's largest optic fibre cable makers and based in Pune. His sons Ankit and Pratik run the group's ports and power transmission businesses. 
 
"I don't see world over natural resources companies run by families. Our oil and gas business can be run by shareholders as it has become so big that it need not be run by family members,” said Agarwal. 
 
His mandate is to run the company as chief executive and hire the best managers besides formalising and executing a growth strategy. Such professionals know technology and can look at the bigger picture from the perspective of having run large projects for global natural resources companies. 
 
"They are focused on sustainability, an environment policy and our team learns to run companies professionally," he told ET. "I would like to see Vedanta as a transparent and professionally run company... by the people and for the people." 
 
Agarwal sees this as a natural progression. "I think I am going to work for another five years to make sure it is run professionally. I have lots of other opportunities. A Vedanta veteran said the brothers have worked in harmony to build the business,” he added. 
"Once companies reach a large size, it needs professional leaders. Children are not always competent or interested in taking forward the father's business," Mita Dixit, co-founder and head, family business advisory, Equations Management Consulting told ET. "Shareholders are active and want the company to be run in a transparent manner to deliver results... It is prudent to have someone with relevant experience and expertise to run the show." 
 
(Image: Indiatimes)

Anil Agarwal, Vedanta Group's owner, chooses professional managers over kin for top posts

<img class="gwt-Image" src="/photo/44479017.cms" /> 
What is <keyword id="2546489" type="UNKNOWN" weightage="100" keywordseo="NiftyMRP">Nifty@MRP</keyword>? As investors, we constantly track <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> movements. To make investing more profitable and not a game of mere chance, we need a solution, a solution which could help us identify whether the market is grossly depressed or irrationally exuberant. This is exactly what Nifty @ MRP is for! 
 
Considering that the Nifty stocks are the top-traded stocks of the country, we expect them to be traded at their MRPs (fair value) but this may not always be true. Thus, Nifty @ MRP gives an indication whether the Nifty is fairly valued or irrationality is driving the markets. 
 
What is the latest value of Nifty@MRP? A lot of things have changed in the past six months, since we last sent out our Nifty@MRP report. Modi-led BJP won elections with a majority; current account deficit has been brought under control; huge FII funds inflow, the economy expanded by 5.7% in the first financial quarter – signalling bottoming out of economy after two years of falling <keyword id="35050" type="CITY" weightage="60" keywordseo="gdp">GDP</keyword> growth! 
 
With the new government better positioned to bring in the much required reforms for the economic growth, the markets saw a long rally post elections. But markets move faster than the economy. However, the fundamentals are yet to show signs of a turnaround. As a result, our valuations too reflect a cautious optimism. 
 
For June 14, Considering the free float market capitalization at the MRP of individual stocks and the share price data as of 30th September, the Nifty@MRP comes out to be 8003.77. On 30th September, NSE Nifty index closed at 7964.8, which is 0.5% or 39 points below the Nifty@MRP of 8003.77. It indicates that the index is fairly-valued. 
 
On similar lines, the Sensex@MRP comes out to 26341. On 30th September, the Sensex closed at 26630.5, which is about 1% or 290 points above Sensex@MRP of 26341. 
 
So, were we surprised with this valuation? Well, to be honest we were slightly surprised to see the Nifty fairly valued at 8003! But the valuations of the individual Nifty companies were done prior to arriving at a value for Nifty@MRP. Each company has been valued separately with rigour. The Nifty@MRP value is merely an outcome of these individual valuations. 
 
The sectors that have majorly contributed to this spurt in the Nifty@MRP value are Banking, Pharma, IT and Auto. The turnaround in banking sector was expected as in Dec 2013, the economy was still in doldrums and the threat of NPAs loomed large. With economy expected to grow and banks taking decisive steps towards curbing NPAs, our valuations too have started to reflect the growth potential in the sector. Recovery in industrial sector is expected to give a boost to Auto, while the US recovery will support growth in the IT sector. Our close analysis of data in the Pharma sector suggests huge growth potential in a few companies, which has been thereby reflected in our valuation. 
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Analysis of the June 14 Quarter financial performance of the Nifty 50 companies 
 
Quarterly Performance 
While on a yearly basis, the companies seemed to have performed well, we can still see a degrowth on a Q-o-Q basis. In fact, net profits continue to decline for a third consecutive quarter. Sectors like FMCG, Pharma, IT, Banks and Auto have shown good performance in this quarter. While sectors like Cement, Metals, Energy and Capital Goods have not yet shown signs of improvement. 
 
With respect to financial performance leaders include Dr. Reddys Laboratories, HCL Technologies, Asian Paints, ITC, HUL, Bank of Baroda, Lupin, PNB, Tata motors Ltd. While the list of laggards includes companies like ACC, BHEL, Cairn India Ltd., DLF, GAIL, NTPC, Sesa Sterlite, Tata Steel. The quarterly results of all Nifty companies except ONGC, BPCL and Tata Motors were in line with our expectations. 
 
Overall, Q1FY14 results show the continued weakness in the economy, with deceleration in net sales, weak pricing power and high interest costs reflecting in the profit degrowth. With RBI seemingly on a path to continue high interest rates may further lead to deterioration in companies with stressed balance sheet. However, with China slowing down and US crude output increasing, we expect India to be a key beneficiary of falling global commodity prices. We believe this would aid the recovery in the Indian economy even though it would be a slow and gradual process as India kick starts its asset-creation program. 
 
Over all, out of 50 Nifty companies, around 18 companies are trading below their MRP (under-valued), 8 Companies are trading close to their MRP i.e. are fairly valued while 24 companies are trading above their MRP (over-valued). 
 
Future Outlook 
Slowdown in global demand, sluggish domestic economic activity, high inflation and interest rates have led to a sub 5% GDP growth in the last two years. This is expected to change as the new government, has initiated reforms process to attract investment and remove infrastructure bottlenecks that will boost growth. Unclogging of policy logjam will lead to rise in the domestic investment and consumption, which will further give a boost to growth. Sectors like auto, consumer durables will gain from this revival. Also, services sector which contributes 60% to real GDP, is expected to grow on the back of acceleration in trade, transport, and banking. 
 
However, this growth comes with a caveat, with both the government and central bank required to play their roles well. The growth forecasts assume that reforms are undertaken to ease supply-side constraints (particularly in energy and infrastructure) and to improve labour productivity, fiscal policy tightening continues, and a credible monetary policy stance is maintained. 
 Also, on a global economic front, things remain sketchy. The U.S. fed has signalled towards high interest rates and we think this may happen earlier than the markets expect. In fact, foreign markets have already started factoring in an interest rate of 3% as soon as Q1 FY16. Eurozone too continues to send warning signals. The Eurozone manufacturing <keyword id="104215" type="ORGANIZATION" weightage="60" keywordseo="PMI">PMI</keyword> fell to a 14-month low of 50.5 in September 14. In fact manufacturing PMI of Germany, one of the best performing economies of the Eurozone, has decined to 49.9 in Sept 14 signalling contraction. China too continues on its troubled path. Though the Chinese GDP has grown energy consumption has remained stagnant which forces us to remain circumspect about the Chinese data numbers. 
 
On the valuation front, markets seem to have factored in all the domestic positives after the long run witnessed post elections. Though our recent experience suggests, that attractive investment opportunities can be found in unconventional places. We would therefore urge investors to look hard at finding value buys in this market. The correction seen in the past 2-3 days if continued will only open up more doors for the value investor. Remember, to buy fundamentally strong companies at a sufficient margin of safety! 
This article is submitted by <a href="http://www.moneyworks4me.com/">www.moneyworks4me.com</a>

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