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FIIs raise their India Inc stake to 20% in FY11
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Ballavpur Adivasi Kala Kendra
Ballavpur Danga, West Bengal
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Solar-Powered ATM to Increase Banking Penetration
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02. NEWSMAKER
FIIs raise their India Inc stake to 20% in FY11
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| Source: Business Standard: May 19, 2011 |
Mumbai: Foreign institutional investors (FIIs) increased ownership in India Inc by 170 basis points to 20.4 per cent in 2010-11, purchasing depository receipts and through market operations.
Indian promoters issued shares worth Rs 61,300 crore, offering shares to overseas investors’ via depository receipts (ADR/GDR), placement to qualified institutional bidders (QIB), preferential allotments, public offerings and conversion of foreign currency convertible bonds (FCCBs).
FIIs holding in the broad-based BSE-500 mid and small-cap companies aggregated to 20.39 per cent and on a free-float basis (excluding promoters), it has been at 44.92 per cent. They raised holding in the 50 benchmark index companies (components of Sensex and Nifty) by 156 basis points to 25.97 per cent and on a free-float basis, not less than 50 per cent. FIIs holds a fourth of market value of private sector companies and 7.7 per cent in government-owned ones.
FIIs bought a record Rs 110,100 crore worth of shares in 2010-11. Of these, Rs 61,300 crore were through primary sources and Rs 48,800 crore from the trading platform of the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). In 2010, these investors had stepped up holdings by 150 bps to 18.7 per cent. The ownership pattern study is based on BSE-500 companies, mid and small-cap stocks.
The ownership of promoters has loosened a bit, by 170 bps, on account of foreign money that had dried in 2008, fallout of the US subprime scam.
The promoters, including private sector, government and holding by multinational companies, is 54.6 per cent of the market value of listed entities, down from 56.4 per cent in 2010. The holding of Indian promoters in the private sector declined marginally by 60 basis points, on account of equity offering to foreign investors.
The government increased its holding by around 25 basis points through preferential allotment by public sector banks. The holding of the public and others was down marginally by 50 bps, while that of other corporate bodies was up by 50 bps.
Overall, private placement for QIBs was Rs 25,350 crore, while shares offerings through ADR/GDR aggregated to Rs 11,323 crore.
Shares offered through preferential allotments were worth Rs 12,266 crore, while those issued after conversion of FCCBs were valued at Rs 6,401 crore.
The shares bought through other means aggregated to Rs 6,000 crore. Promoters went for preferential allotment, creeping acquisitions and open market buy-out to increase their holdings. The government fastened its hold on 10 public sector banks through preferential issues worth Rs 12, 266 crore.
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| Gems & jewellery exports rise 4% in April |
| Source : The Economic Times: May 19, 2011 |
Ahmedabd: India's gems and jewellery exports rose marginally by 4.18% to 14,268 crore durng April. Exports of cut and polished diamonds have increased by 5%, while silver jewellery exports rose by around 34% in April.
"The overall exports of gems and jewellery at $3,215.73 million ( 14,268.20 crore) in the month of April 2011 is showing a growth of 4.48% (4.18% in rupee terms) as compared to $3,077.76 million ( 13,696.02 crore) in the same period previous year. The overall exports of cut & polished diamonds at $2,035.22 million ( 9,030.27 crore) in the month of April 2011 have shown a growth of 5.53% (5.22% in rupee terms) as compared to $1,928.60 million ( 8,582.26 crore) for the same period of previous year," according to a press release by Gem & Jewellery Export Promotion Council (GJEPC).
It may be mentioned here that cut and polished diamonds accounted for 65.49% of the total gem and jewellery export of India in the fiscal 2011. During 2010-11, India registered 55% increase in the cut and polished diamond exports at $28,251 million.
"We have witnessed good business after recession and we hope that it will continue. We expect around 20% increase in exports this year," said Sanjay Kothari, vice chairman of GJEPC.
According to GJEPC, provisional export of gold jewellery and gold medallions for the month of April 2011 stood at 4,543.31 crore, which shows decline of 0.72% over the comparative figure of 4,576.31 crore for April 2010.
The provisional export of silver jewellery for the period stood at 178.96 crore showing growth of 34.17% compared to export of 133.38 crore for April 2010.
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| Arunachal Women are on top of the world |
| Source: The Hindu |
Arunachal Pradesh is on top of the world with two tribal women, including a mother of two, summiting the world’s highest peak in the past fortnight, a spectacular record of grit and stamina.
First was 25-year-old Tine Mena from Roing in Lower Dibang Valley district who shot to fame by scaling the 29,035-feet Mount Everest on May 9. Tine was the first woman from Arunachal Pradesh to achieve the feat of reaching the summit. Overwhelmed by her success, she attributes it to her determination.
Another tribal woman, 32-year-old Anshu Jamsenpa from Bomdila in West Kameng district, brought more cheers as she created a world record by scaling the Mount Everest twice in one season – she scaled first on May 12 and then successfully did it once again Saturday (May 21).
Interestingly, until two years ago, 32-year-old Anshu led a luxurious life helping her husband in his travel agency business and raising her two daughters in Bomdila. Sometime in 2009, during an expedition arranged by her husband, Anshu was busy providing refreshment to the participants, when her trainer Meetai casually asked her to try climbing herself. Anshu was motivated and soon took up climbing – she was first trained at the Manipur Mountaineering Institute in Imphal and then went on to the Nehru Institute of Mountaineering in Uttarkashi and the Himalayan Mountaineering Institute in Darjeeling.
‘The two women have made the whole of Arunachal Pradesh and India proud by their spectacular feats,’ a beaming Meetai said.
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