General Affairs
Amid Confusion Over Make-In-India For F-16s, Defence Minister Weighs In
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Foreign aircraft manufacturers offering to make combat jets in India will have to win approval from their governments, Defence Minister Manohar Parrikar said, in a measure aimed at ensuring projects are not affected due to policy flip-flops.
These comments come at a time when US firm Lockheed Martin has said the new administration under President Donald Trump may want to take a "fresh look" at its proposal to move production of its F-16 combat jets to India. The former US government led by Barack Obama had supported the plan.
There are concerns that a veto on making the F-16 in India would not only hit Lockheed, but also threaten other military contracts to come up in India for US firms such as Boeing, Northrop and Raytheon.
Mr Parrikar's comments suggest the minister is keen US firms get a clear go-ahead from Trump, who has criticized companies that have moved manufacturing overseas and then sold their products back to the United States, before starting projects in India to avoid any hurdles down the road. "If someone wants to shift their plant to India, or set up a new one, it is not an issue," Mr Parrikar told a news conference on the sidelines of Asia's biggest air show in Bengaluru aimed at showcasing Indian aerospace capabilities. He said India needs 800-1,000 helicopters and 300-400 combat planes.
"But if these original equipment makers are proposing something (local production), they will have to get their government's approval. That is my requirement."
The main condition for the contract to supply hundreds of fighter planes to India's air force is that it has to be made in India, in collaboration with a local partner, he added.
Sweden's SAAB, which is offering to build in India with a local partner, demonstrated its Gripen jet at the air show, while Lockheed showed its F-16 plane.
Lockheed has been talking to Trump's teams and the US Congress for several months on its proposed sale of F-16 planes to India, a spokesman told Reuters in Washington last week.
Lockheed's plan is to build the F-16 to equip the Indian Air Force, and not ship them back home.
India under Prime Minister Narendra has embarked on a massive drive to build locally and end the country's status as one of the world's biggest arms importers.
Analysts expect the country to spend $250 billion on defence modernization over the next decade.
These comments come at a time when US firm Lockheed Martin has said the new administration under President Donald Trump may want to take a "fresh look" at its proposal to move production of its F-16 combat jets to India. The former US government led by Barack Obama had supported the plan.
Mr Parrikar's comments suggest the minister is keen US firms get a clear go-ahead from Trump, who has criticized companies that have moved manufacturing overseas and then sold their products back to the United States, before starting projects in India to avoid any hurdles down the road. "If someone wants to shift their plant to India, or set up a new one, it is not an issue," Mr Parrikar told a news conference on the sidelines of Asia's biggest air show in Bengaluru aimed at showcasing Indian aerospace capabilities. He said India needs 800-1,000 helicopters and 300-400 combat planes.
"But if these original equipment makers are proposing something (local production), they will have to get their government's approval. That is my requirement."
The main condition for the contract to supply hundreds of fighter planes to India's air force is that it has to be made in India, in collaboration with a local partner, he added.
Sweden's SAAB, which is offering to build in India with a local partner, demonstrated its Gripen jet at the air show, while Lockheed showed its F-16 plane.
Lockheed has been talking to Trump's teams and the US Congress for several months on its proposed sale of F-16 planes to India, a spokesman told Reuters in Washington last week.
Lockheed's plan is to build the F-16 to equip the Indian Air Force, and not ship them back home.
India under Prime Minister Narendra has embarked on a massive drive to build locally and end the country's status as one of the world's biggest arms importers.
Analysts expect the country to spend $250 billion on defence modernization over the next decade.
On Valentine's Day, PM Narendra Modi Decides To Help Married Officers Work At One Place
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Prime Minister Narendra Modi has changed service rules to allow married IAS and IPS officers to get same cadre state. At present, there is no provision in the existing guidelines for the cases where either of the officers of all India services--Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFoS)--ie husband or wife can opt for the cadre of their spouse being their respective home cadre.
The decision to amend the rules is triggered by a unique case of 2011-batch IAS officer P Parthiban, who married to his batchmate and Tamil Nadu cadre IPS officer Nisha, who hails from Delhi.
Mr Parthiban is a native of Tamil Nadu and has been allocated union territories cadre, that includes Delhi.
The couple had sought common cadre citing their marriage, as civil services rules allow it. However, the rules bar any member of the service from working in his or her home state.
This matter was put up before a Committee, that decides on cases of inter-cadre transfer and deputation require relaxation in provisions of existing guidelines, headed by Secretary of Department of Personnel and Training (DoPT).
The panel had then recommended change in guidelines, which has now been approved by Appointments Committee of Cabinet (ACC) headed by PM Modi.
The ACC has approved that in cases where either of the officers cannot opt for the cadre of the spouse being their respective home cadre, the officers may choose the immediate next cadre opted by them in the detailed application form submitted to Union Public Service Commission (UPSC)--that conducts the exam to select such bureaucrats--below the present cadre allotted, an order issued by the DoPT said.
A candidate has to give his or her order of preference of a desired cadre in the detailed application form during the civil services examination process.
The UPSC conducts the examination annually in three stages -- preliminary, main and interview-- to select IAS, IPS and IFoS officers among others.
"In case of non-receipt of preference within the stipulated time from the concerned officers, they can be assigned the most deficit cadre between the two subject to receipt of No Objection Certificate from the parent cadre as well as recipient cadre," the new policy reads.
The decision to amend the rules is triggered by a unique case of 2011-batch IAS officer P Parthiban, who married to his batchmate and Tamil Nadu cadre IPS officer Nisha, who hails from Delhi.
The couple had sought common cadre citing their marriage, as civil services rules allow it. However, the rules bar any member of the service from working in his or her home state.
This matter was put up before a Committee, that decides on cases of inter-cadre transfer and deputation require relaxation in provisions of existing guidelines, headed by Secretary of Department of Personnel and Training (DoPT).
The ACC has approved that in cases where either of the officers cannot opt for the cadre of the spouse being their respective home cadre, the officers may choose the immediate next cadre opted by them in the detailed application form submitted to Union Public Service Commission (UPSC)--that conducts the exam to select such bureaucrats--below the present cadre allotted, an order issued by the DoPT said.
A candidate has to give his or her order of preference of a desired cadre in the detailed application form during the civil services examination process.
The UPSC conducts the examination annually in three stages -- preliminary, main and interview-- to select IAS, IPS and IFoS officers among others.
"In case of non-receipt of preference within the stipulated time from the concerned officers, they can be assigned the most deficit cadre between the two subject to receipt of No Objection Certificate from the parent cadre as well as recipient cadre," the new policy reads.
20-Foot Tunnel From Pakistan Found By BSF At Sambha, Jammu and Kashmir
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A 20-metre tunnel dug from Pakistan to help terrorists infiltrate into India has been found by the Border Security Force (BSF) near the International Border. The tunnel was discovered during searches at the Ramgarh sector in Sambha yesterday, said senior BSF officer Dharmedra Pareek.
The tunnel is 2.5 feet wide and about that deep, the officer said.
"The tunnel was yet to be completed and was detected well in advance, before it could reach the fence," he said.
It has been dug right below the border fence and was detected during an exercise by the BSF across 200 km of the International Border.
Surveillance equipment along the border over the years has made infiltration almost impossible. That, say officers, is the reason that so many tunnels are being dug - there is no underground mechanism. "When we investigated, we found that the construction of the tunnel was an ongoing process... with the detection of the tunnel any possible infiltration in the future has been foiled," the BSF officer said, adding that the discovery has resulted in destroying the plans of terrorists to strike India in connivance with the Pakistan Rangers.
The BSF will ask for a border meeting with their counterparts, the Pak Rangers, and inform them about the tunnel found well beyond the fencing.
Last year, three heavily armed militants entered Indian territory using a tunnel in the same sector.
In 2012, a 400-metre tunnel with ventilation pipes was found in the samba sector and was considered a major discovery.
A tunnel was also found near the Line of Control in the Akhnoor sector in 2009.
In the past, terrorists have indicated the possibility of tunnels being used for infiltration. Officers say with traditional infiltration routes shut to them, the terrorists are changing their tactics and using new methods to infiltrate.
The tunnel is 2.5 feet wide and about that deep, the officer said.
"The tunnel was yet to be completed and was detected well in advance, before it could reach the fence," he said.
It has been dug right below the border fence and was detected during an exercise by the BSF across 200 km of the International Border.
The BSF will ask for a border meeting with their counterparts, the Pak Rangers, and inform them about the tunnel found well beyond the fencing.
Last year, three heavily armed militants entered Indian territory using a tunnel in the same sector.
In 2012, a 400-metre tunnel with ventilation pipes was found in the samba sector and was considered a major discovery.
A tunnel was also found near the Line of Control in the Akhnoor sector in 2009.
In the past, terrorists have indicated the possibility of tunnels being used for infiltration. Officers say with traditional infiltration routes shut to them, the terrorists are changing their tactics and using new methods to infiltrate.
No Need To Stand If National Anthem Shown In Film, Supreme Court Says
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Movie-goers need not stand when the national anthem is played during a film screening, the Supreme Court said today in response to requests for clarification of its previous order.
"It is clarified that when the national anthem is played as part of the storyline of a film, newsreel or a documentary the audience need not stand," the court said.
The court today also clarified that when the anthem is played in cinema halls, it is not compulsory for the audience to sing along.
On November 30, the court had ordered cinema halls across the nation to play the anthem before every movie screening and the audience must rise out of respect. The ruling was based on a petition by Shyam Narayan Chouksey, who runs an NGO in Bhopal.
The centre, calling the court's order a "new beginning", said the anthem should also be mandatory in schools "if we want to inculcate respect for the anthem among children".
Citizens "are duty-bound to show respect to the national anthem which is the symbol of the constitutional patriotism," the top court had said in the order.
"The love and respect for the motherland is reflected when one shows respect to the National Anthem as well as to the National Flag," the judges commented.
Days after the November order, there were instances of people at movie theatres being assaulted and arrested for not standing during the anthem, in states like Tamil Nadu and Kerala.
After safety issues were flagged, the court clarified that the doors of the theatre must be "closed but not bolted" during the anthem.
"It is clarified that when the national anthem is played as part of the storyline of a film, newsreel or a documentary the audience need not stand," the court said.
The court today also clarified that when the anthem is played in cinema halls, it is not compulsory for the audience to sing along.
The centre, calling the court's order a "new beginning", said the anthem should also be mandatory in schools "if we want to inculcate respect for the anthem among children".
"The love and respect for the motherland is reflected when one shows respect to the National Anthem as well as to the National Flag," the judges commented.
Days after the November order, there were instances of people at movie theatres being assaulted and arrested for not standing during the anthem, in states like Tamil Nadu and Kerala.
After safety issues were flagged, the court clarified that the doors of the theatre must be "closed but not bolted" during the anthem.
India, China Account For Half The World's Pollution Deaths In 2015: Study
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China and India have accounted for more than half of the total number of global deaths attributable to air pollution in 2015, a study published on Tuesday said. Research by the US-based Health Effects Institute (HEI) showed that air pollution caused more than 4.2 million early deaths worldwide in 2015, making it the fifth highest cause of death, with around 2.2 million deaths in China and India alone.
The institute, which has also launched an online database showing the global impact of pollution on health, said 92 per cent of the world's population lives in areas with unhealthy air.
Air pollution has been linked to higher rates of cancer, stroke and heart disease, as well as chronic respiratory conditions like asthma. China and India, the world's two most populated nations, each accounted for 1.1 million deaths, the findings showed, but China is now pushing ahead when it comes to taking action, HEI president Dan Greenbaum told Reuters. "(India) has got a longer way to go. They still appear to have some ministers who say there isn't a strong connection between air pollution and mortality in spite of quite a lot of evidence," he said.
China's authorities have also been reluctant to draw direct links between air pollution and mortality, with the country's health ministry saying it had "no data" linking smog to higher incidences of cancer. "It is currently too early to draw conclusions about the extent of the impact of smog on health, especially its long-term impact on the body," a ministry spokesman told the domestic media in China during a press briefing in January.
In a long-term national healthcare plan published last October, the Chinese government acknowledged the link between health and pollution, and pledged to assess the precise impacts as well as boost environmental monitoring capabilities.
The institute, which has also launched an online database showing the global impact of pollution on health, said 92 per cent of the world's population lives in areas with unhealthy air.
China's authorities have also been reluctant to draw direct links between air pollution and mortality, with the country's health ministry saying it had "no data" linking smog to higher incidences of cancer. "It is currently too early to draw conclusions about the extent of the impact of smog on health, especially its long-term impact on the body," a ministry spokesman told the domestic media in China during a press briefing in January.
In a long-term national healthcare plan published last October, the Chinese government acknowledged the link between health and pollution, and pledged to assess the precise impacts as well as boost environmental monitoring capabilities.
Business Affairs
Five stocks which hit new 52-week high today
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The Sensex closed marginally in the red on Tuesday. The index fell 12.31 points to close at 28,339.31 level. Nifty too was down 0.14 percent or 12.75 points to 8792 level. Here is a look at five stocks which hit their new 52-week highs in an otherwise flat market.
AIA Engineering: The stock hit a new 52-week high of Rs 1,441 up (4 percent intra day) in today's trade after the firm reported 17.6 percent year-on-year growth in net profit at Rs 120 crore for the quarter ended December 2016 today. It posted Rs 101.5 crore in net profit in for the quarter ended December 2015.
The board declared an interim dividend of Rs 4 per share (200%) per equity share on 9,43,20,370 equity shares of Rs 2.00 each for the financial year 2016-17.
AIA Engineering, specialises in the design, development, manufacture, installation and servicing of high chromium wear, corrosion and abrasion resistant castings used in the cement, mining and thermal power generation industries.
The stock opened at Rs 1385.00 level on the BSE. It closed 2.02 percent or 28 points higher at Rs 1413.90.
Alkem Laboratories: The stock hit a new 52-week high in Tuesday's trade. The firm posted 24.9 percent rise in net profit of Rs 233.4 crore in Q3 of the current fiscal. It reported Rs 186 crore net profit in the third quarter of last fiscal.
The earnings were announced on February 10, 2017. Its US business sales rose 30.1 percent to Rs 338 crore in Q3 against Rs 260.2 crore in the December quarter of last fiscal.
Alkem Laboratories is a multinational pharmaceutical company headquartered in Mumbai, Maharashtra that manufactures and sells pharmaceutical generics, formulations and active pharmaceutical ingredients (APIs) primarily in India and also in United States, Australia and the UK.
The stock closed 2.03 percent higher at 1874 level on the BSE.
KEC International: The KEC International stock rose to its 52-week high in early trade today. It hit a level of Rs 170 on the BSE. The firm is a global infrastructure engineering, procurement and construction (EPC) major with presence across power transmission and distribution, cables, railways, water, renewables and civil. The stock closed 3.85 percent or 6.50 points lower at Rs162.35 on the BSE.
Exide Industries: The stock hit a new 52-week high of Rs 218 in early trade today. It opened at Rs 217 level today and hit an intra day low of Rs 212 on the BSE.
Chandan Taparia, Derivatives Analyst, Anand Rathi Financial Services has given a buy rating on the stock. It has formed a positive price structure. So can be bought with a target of Rs 230, he told CNBC TV 18.
Exide Industries is a storage battery producing company in India. It manufactures automotive and industrial lead-acid batteries. The stock closed 0.81 percent or 1.75 points lower at Rs 213.75 on the BSE.
Kalpataru Power Transmission: The stock rose to a new 52-week high of Rs 299.85 in early trade. It hit a intra day low of Rs 290.10 on the BSE. The stock saw unusually high volumes being traded on the bourses. Around 57,825 shares of the firm were traded on the BSE.
KPTL is part of the Kalpataru Group established in 1969.
The firm is a diversified conglomerate spanning real estate, power generation and transmission, construction of roads, factories, buildings and oil and gas infrastructure and agri-logistics spaces. The stock fell 0.07 percent or 0.20 points lower at Rs 290.05 on the BSE.
The Sensex closed marginally in the red on Tuesday. The index fell 12.31 points to close at 28,339.31 level. Nifty too was down 0.14 percent or 12.75 points to 8792 level. Here is a look at five stocks which hit their new 52-week highs in an otherwise flat market.
AIA Engineering: The stock hit a new 52-week high of Rs 1,441 up (4 percent intra day) in today's trade after the firm reported 17.6 percent year-on-year growth in net profit at Rs 120 crore for the quarter ended December 2016 today. It posted Rs 101.5 crore in net profit in for the quarter ended December 2015.
The board declared an interim dividend of Rs 4 per share (200%) per equity share on 9,43,20,370 equity shares of Rs 2.00 each for the financial year 2016-17.
AIA Engineering, specialises in the design, development, manufacture, installation and servicing of high chromium wear, corrosion and abrasion resistant castings used in the cement, mining and thermal power generation industries.
The stock opened at Rs 1385.00 level on the BSE. It closed 2.02 percent or 28 points higher at Rs 1413.90.
Alkem Laboratories: The stock hit a new 52-week high in Tuesday's trade. The firm posted 24.9 percent rise in net profit of Rs 233.4 crore in Q3 of the current fiscal. It reported Rs 186 crore net profit in the third quarter of last fiscal.
The earnings were announced on February 10, 2017. Its US business sales rose 30.1 percent to Rs 338 crore in Q3 against Rs 260.2 crore in the December quarter of last fiscal.
Alkem Laboratories is a multinational pharmaceutical company headquartered in Mumbai, Maharashtra that manufactures and sells pharmaceutical generics, formulations and active pharmaceutical ingredients (APIs) primarily in India and also in United States, Australia and the UK.
The stock closed 2.03 percent higher at 1874 level on the BSE.
KEC International: The KEC International stock rose to its 52-week high in early trade today. It hit a level of Rs 170 on the BSE. The firm is a global infrastructure engineering, procurement and construction (EPC) major with presence across power transmission and distribution, cables, railways, water, renewables and civil. The stock closed 3.85 percent or 6.50 points lower at Rs162.35 on the BSE.
Exide Industries: The stock hit a new 52-week high of Rs 218 in early trade today. It opened at Rs 217 level today and hit an intra day low of Rs 212 on the BSE.
Chandan Taparia, Derivatives Analyst, Anand Rathi Financial Services has given a buy rating on the stock. It has formed a positive price structure. So can be bought with a target of Rs 230, he told CNBC TV 18.
Exide Industries is a storage battery producing company in India. It manufactures automotive and industrial lead-acid batteries. The stock closed 0.81 percent or 1.75 points lower at Rs 213.75 on the BSE.
Kalpataru Power Transmission: The stock rose to a new 52-week high of Rs 299.85 in early trade. It hit a intra day low of Rs 290.10 on the BSE. The stock saw unusually high volumes being traded on the bourses. Around 57,825 shares of the firm were traded on the BSE.
KPTL is part of the Kalpataru Group established in 1969.
The firm is a diversified conglomerate spanning real estate, power generation and transmission, construction of roads, factories, buildings and oil and gas infrastructure and agri-logistics spaces. The stock fell 0.07 percent or 0.20 points lower at Rs 290.05 on the BSE.
India's advertising expenditure slows down; demonetisation not the only cause
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India's advertising expenditure (AdEx) grew by a modest 12 per cent last year as opposed to the 15.5 per cent growth predicted by the global media management investment conglomerate, GroupM. in the latest version of its advertising expenditure report, "This Year Next Year", GroupM has predicted a muted AdEx growth of just 10 per cent in 2017.
The muted AdEx growth certainly doesn't come as a surprise as advertising expenditure took a massive hit towards the end of 2016, a fallout of demonetisation. But, surprisingly, it is not demonetisation that has resulted in the muted growth -- it is more to do with sectors such as FMCG, telecom and e-commerce which had drastically shrunk their advertising budgets last year. "Demonetisation shaved off just 2 per cent from the overall growth. Had demonetisation not happened we would have still ended the year at 13.5 per cent and not 15.5 per cent that we had forecasted," says C.V.L. Srinivas, CEO, Group M (South Asia). Almost 30 per cent of the Indian AdEx comes from the FMCG sector and with the sector experiencing low volume growth, its contribution is expected to be low even this year.
In fact, it is for the first time in many years that the FMCG growth (6-7 per cent) has been lower than the overall AdEx growth, points out Srinivas. The other surprise element has been television advertising which is expected to grow by just 8 per cent, again much lower than the overall AdEx growth. Television ad revenue has always grown ahead of the overall AdEx.
As per GroupM, the ad spending in 2016 was Rs 55,671 crore and it is estimated to reach Rs 61,204 crore by the end of 2017. The largest chunk of the incremental AdEx, as per the report, is expected to come from digital, which is expected to take a 15.5 per cent share of the AdEx this year. In fact, digital in the last few years has been eating into the share of print but in 2016 also began to eat into the share of television. But despite digital being the biggest beneficiary, it is TV that will continue to be the largest medium in the mix with a 45 per cent share.
The FMCG sector will continue to remain the largest spender despite the slowdown. The other sectors that are expected to contribute significantly are auto, media, e-wallets and even political parties, with elections in several States.
India's advertising expenditure (AdEx) grew by a modest 12 per cent last year as opposed to the 15.5 per cent growth predicted by the global media management investment conglomerate, GroupM. in the latest version of its advertising expenditure report, "This Year Next Year", GroupM has predicted a muted AdEx growth of just 10 per cent in 2017.
The muted AdEx growth certainly doesn't come as a surprise as advertising expenditure took a massive hit towards the end of 2016, a fallout of demonetisation. But, surprisingly, it is not demonetisation that has resulted in the muted growth -- it is more to do with sectors such as FMCG, telecom and e-commerce which had drastically shrunk their advertising budgets last year. "Demonetisation shaved off just 2 per cent from the overall growth. Had demonetisation not happened we would have still ended the year at 13.5 per cent and not 15.5 per cent that we had forecasted," says C.V.L. Srinivas, CEO, Group M (South Asia). Almost 30 per cent of the Indian AdEx comes from the FMCG sector and with the sector experiencing low volume growth, its contribution is expected to be low even this year.
In fact, it is for the first time in many years that the FMCG growth (6-7 per cent) has been lower than the overall AdEx growth, points out Srinivas. The other surprise element has been television advertising which is expected to grow by just 8 per cent, again much lower than the overall AdEx growth. Television ad revenue has always grown ahead of the overall AdEx.
As per GroupM, the ad spending in 2016 was Rs 55,671 crore and it is estimated to reach Rs 61,204 crore by the end of 2017. The largest chunk of the incremental AdEx, as per the report, is expected to come from digital, which is expected to take a 15.5 per cent share of the AdEx this year. In fact, digital in the last few years has been eating into the share of print but in 2016 also began to eat into the share of television. But despite digital being the biggest beneficiary, it is TV that will continue to be the largest medium in the mix with a 45 per cent share.
The FMCG sector will continue to remain the largest spender despite the slowdown. The other sectors that are expected to contribute significantly are auto, media, e-wallets and even political parties, with elections in several States.
Dena Bank CMD denies merger with Union Bank
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State owned Dena Bank today denied any talks with Union Bank of India for a possible merger.
Dena Bank Chairman and Managing Director Ashwani Kumar also said he did not foresee any further rate cuts.
"There has been no discussion regarding the merger between us and the Union Bank," Kumar said here.
Speaking about interest rate outlook, Kumar said he doesn't see any further reduction in Marginal Cost of Funds based Lending Rate (MCLR).
"Don't think there is any margin to reduce further.
The Asset Liability Committee will meet later this month to look into it," he said.
Dena Bank mopped up Rs 20,400 crore post-demonetisation and withdrawal was Rs 9000-10,000 crore.
Speaking on the bank's initiatives, Kumar said Dena Bank was promoting digital banking initiatives.
"We have already handed over 4,500 POS machines and by March our target is 10,000 machines," he said.
After aggressive branch expansion last year, the Bank will add around 26 branches including two branches in the North East during the 2016-17 fiscal.
Dena Bank has also launched a finance carnival targeting the MSME sector, Kumar said.
State owned Dena Bank today denied any talks with Union Bank of India for a possible merger.
Dena Bank Chairman and Managing Director Ashwani Kumar also said he did not foresee any further rate cuts.
"There has been no discussion regarding the merger between us and the Union Bank," Kumar said here.
Speaking about interest rate outlook, Kumar said he doesn't see any further reduction in Marginal Cost of Funds based Lending Rate (MCLR).
"Don't think there is any margin to reduce further.
The Asset Liability Committee will meet later this month to look into it," he said.
Dena Bank mopped up Rs 20,400 crore post-demonetisation and withdrawal was Rs 9000-10,000 crore.
Speaking on the bank's initiatives, Kumar said Dena Bank was promoting digital banking initiatives.
"We have already handed over 4,500 POS machines and by March our target is 10,000 machines," he said.
After aggressive branch expansion last year, the Bank will add around 26 branches including two branches in the North East during the 2016-17 fiscal.
Dena Bank has also launched a finance carnival targeting the MSME sector, Kumar said.
Tata Motors reports 96% decline in Q3 profit
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Homegrown auto major Tata Motors today reported 96.22 per cent decline in consolidated net profit to Rs 111.57 crore for the December quarter, dragged down by losses in domestic operations and lower profit of its British arm JLR.
It had posted net profit of Rs 2,952.67 crore in the same quarter of last fiscal, Tata Motors said in a BSE filing.
The company's consolidated sales during the October- December quarter were down 2.2 per cent to Rs 67,864.95 crore as against Rs 69,398.07 crore in the year-ago period.
On a standalone basis, Tata Motors' loss after tax widened to Rs 1,046 crore in the third quarter of 2016-17, from Rs 137 crore a year ago.
The revenues (net of excise) of the standalone business (including joint operations) for the quarter under review stood at Rs 10,167 crore, as compared to Rs 10,019 crore in the third quarter of 2015-16, up 1.47 per cent.
Tata Motors said its British arm Jaguar Land Rover posted revenue of 6,537 million pounds, compared to 5,781 million pounds -- up 13.1 per cent.
JLR had profit after tax (PAT) of 167 million pounds for the third quarter compared to 440 million pounds in the corresponding quarter last fiscal, down 62 per cent.
It had lower wholesale volumes and less favourable product mix but was partially offset by favourable market mix, including the runout of Discovery, the company said.
There were also unfavourable variable marketing expense and higher new model launch costs and biennial pay negotiation settlement. Favourable operating exchange was also offset by realised hedges, the company added
JLR's total retail sales, including the China JV, were at 1,49,288 units, up 8.5 per cent.
Tata Motors said during the third quarter 2016-17, its commercial vehicles segment witnessed demand shrinkage due to the demonetisation.
Medium and heavy commercial vehicle segment witnessed major pressure with a fall of 9 per cent and LCV segment was overall flat.
Passenger vehicles segment grew by 25.4 per cent with car segment rising by 31.1 per cent on the back of continued strong response to the Tiago, it added.
Tata Motors stock ended at Rs 468.30 apiece, down 7.34 per cent, on BSE.
Homegrown auto major Tata Motors today reported 96.22 per cent decline in consolidated net profit to Rs 111.57 crore for the December quarter, dragged down by losses in domestic operations and lower profit of its British arm JLR.
It had posted net profit of Rs 2,952.67 crore in the same quarter of last fiscal, Tata Motors said in a BSE filing.
The company's consolidated sales during the October- December quarter were down 2.2 per cent to Rs 67,864.95 crore as against Rs 69,398.07 crore in the year-ago period.
On a standalone basis, Tata Motors' loss after tax widened to Rs 1,046 crore in the third quarter of 2016-17, from Rs 137 crore a year ago.
The revenues (net of excise) of the standalone business (including joint operations) for the quarter under review stood at Rs 10,167 crore, as compared to Rs 10,019 crore in the third quarter of 2015-16, up 1.47 per cent.
Tata Motors said its British arm Jaguar Land Rover posted revenue of 6,537 million pounds, compared to 5,781 million pounds -- up 13.1 per cent.
JLR had profit after tax (PAT) of 167 million pounds for the third quarter compared to 440 million pounds in the corresponding quarter last fiscal, down 62 per cent.
It had lower wholesale volumes and less favourable product mix but was partially offset by favourable market mix, including the runout of Discovery, the company said.
There were also unfavourable variable marketing expense and higher new model launch costs and biennial pay negotiation settlement. Favourable operating exchange was also offset by realised hedges, the company added
JLR's total retail sales, including the China JV, were at 1,49,288 units, up 8.5 per cent.
Tata Motors said during the third quarter 2016-17, its commercial vehicles segment witnessed demand shrinkage due to the demonetisation.
Medium and heavy commercial vehicle segment witnessed major pressure with a fall of 9 per cent and LCV segment was overall flat.
Passenger vehicles segment grew by 25.4 per cent with car segment rising by 31.1 per cent on the back of continued strong response to the Tiago, it added.
Tata Motors stock ended at Rs 468.30 apiece, down 7.34 per cent, on BSE.
Food inflation may revive as demonetisation effect fades off
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Declining for the seventh month in a row, retail inflation, as measured by the consumer price index (CPI), expectedly eased further to 3.2 per cent in January from 3.4 per cent in the previous month. This was the lowest since the introduction of the current series of CPI.
The fall was primarily on account of food inflation which declined to a five-year low of 0.5 per cent in January 2017 from 1.4 per cent a month ago. Both rural and urban areas recorded a fall in food inflation. In rural India, food inflation fell to 1.1 per cent from 2.1 per cent. Food inflation in urban areas recorded a deflation of 0.3 per cent in January 2017 from an inflation of 0.2 per cent in December 2016.
The growth in vegetable prices has been in negative territory since September 2016 and slipped to 15.6 per cent in January. However, vegetable prices may revive as the effects of demonetisation fades off.
Inflation in rural areas fell to 3.4 per cent in January from 3.8 per cent in the previous month. Retail inflation in urban areas remained unchanged at 2.9 per cent in January 2017 as compared to the previous month. Fuel & light group also recorded a fall in inflation to 3.4 per cent in January 2017 from 3.8 per cent in December 2016. Non-food components such as pan, clothing, and footwear have shown higher price increases during the period.
Now that the WPI inflation has surged to its highest level since August 2014, the focus has shifted more towards the widening gap between the high wholesale inflation and softening retail inflation. The retail inflation is expected to remain sticky and presents a very limited scope for a rate cut by the central bank.
Declining for the seventh month in a row, retail inflation, as measured by the consumer price index (CPI), expectedly eased further to 3.2 per cent in January from 3.4 per cent in the previous month. This was the lowest since the introduction of the current series of CPI.
The fall was primarily on account of food inflation which declined to a five-year low of 0.5 per cent in January 2017 from 1.4 per cent a month ago. Both rural and urban areas recorded a fall in food inflation. In rural India, food inflation fell to 1.1 per cent from 2.1 per cent. Food inflation in urban areas recorded a deflation of 0.3 per cent in January 2017 from an inflation of 0.2 per cent in December 2016.
The growth in vegetable prices has been in negative territory since September 2016 and slipped to 15.6 per cent in January. However, vegetable prices may revive as the effects of demonetisation fades off.
Inflation in rural areas fell to 3.4 per cent in January from 3.8 per cent in the previous month. Retail inflation in urban areas remained unchanged at 2.9 per cent in January 2017 as compared to the previous month. Fuel & light group also recorded a fall in inflation to 3.4 per cent in January 2017 from 3.8 per cent in December 2016. Non-food components such as pan, clothing, and footwear have shown higher price increases during the period.
Now that the WPI inflation has surged to its highest level since August 2014, the focus has shifted more towards the widening gap between the high wholesale inflation and softening retail inflation. The retail inflation is expected to remain sticky and presents a very limited scope for a rate cut by the central bank.
General Awareness
List of Important River Projects in India
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Dear Readers & Aspirants
We have collected some important water Projects in India. Now-a-days GA questions are asking from various section in different views. We hope, it will help you in Competitive exams.
Project River Related State Bansagar Project Son Bihar
Uttar Pradesh
Madhya Pradesh Bargi Project Bargi Madhya Pradesh Beas Project Beas Haryana
Punjab
Rajasthan Bhadra Project Bhadra Karnataka Bhakhra Nangal Project Sutlej Punjab,
Himachal Pradesh ,
Haryana,
Rajsthan Bheema Project Pawana Maharashtra Chambal Project Chambal Rajasthan
Madhya Pradesh Damodar Ghati Project Damodar Jharkhand
West Bengal Dulhasti Project Chinab Jammu & Kashmir Durga Barrage Project Damodar West Bengal
Jharkhand Farakka Project Ganga, Bhagirathi West Bengal Gandak Project Gandaki Bihar, Uttar Pradesh Ganga Sagar Project Chambal Madhya Pradesh Ghatprabha Project Ghatprabha Karnataka Girna Project Girna Maharashtra Hansdev Bango Project Hansdev Madhya Pradesh Hidkal Project Ghatprabha Karnataka Hirakud Project Mahanadi Orissa Idduki Project Periyar Kerala Indira Gandhi Canal Project Satlaj Rajasthan
Punjab
Haryana Jawahar Sagar Project Chambal Rajasthan Jayakwadi Project Godawari Maharashtra Kakrapara Project Tapti Gujrat Kangsawati Project Kangsawati West Bengal Kol Dam Project Sutlaj Himachal Pradesh Kosi Project Kosi Bihar & Nepal Koyana Project Koyana Maharashtra Krishna Project Krishna Karnataka Kunda Project Kunda Tamilnadu Let Bank Ghaghra Canal Ganaga Uttar Pradesh Madhya Ganaga Canal Ganaga Uttar Pradesh Mahanadi Delta Project Mahanadi Odisha Malprabha Project Malprabha Karnataka Mandi Project Vyas Himachal Pradesh Matatilla Project Betwa Uttar Pradesh
Madhya Pradesh Mayurakshi Project Mayurakshi West Bengal Minimato Bango Hasdeo Project Hasdeo Bango river Madhya Pradesh Muchkund Project Muchkund Odisha
Andhra Pradesh Nagarjunsagar Project Krishna Andhra Pradesh Nagpur Power Project Koradi Maharashtra Narmada Sagar Project Narmada Madhya Pradesh
Gujarat Nathpa Jhakri Project Sutlaj Himachal Pradesh Panam Project Panam Gujarat Panama Project Panama Gujarat Panchet Project Damodar Jharkhand
West Bengal Pong Project Beas Punjab Poochampad Project Godawari Andhra Pradesh Purna Project Purna Maharashtra Rajasthan Canal Project Sutlej, Vyas, Ravi Rajasthan
Punjab
Haryana Ramganga Project Ramganga Uttar Pradesh Rana Pratap Sagar Project Chambal Rajsthan Ranjeet Sagar Project Ravi Punjab Rihand Project Rihand Uttar Pradesh Salal Project Chenab Jammu & Kashmir Sardar Sarovar Project Narmada Madhya Pradesh
Maharashtra
Rajasthan Sarhind Project Sutlaj Haryana Sharawati Project Sharawati Karnataka Sharda Project Sharda, Gomti Uttar Pradesh Shivsamundram Project Kaveri Karnataka Sutlaj Project Chinab Jammu & Kashmir Tawa Project Tawa Madhya Pradesh Tehri Dam Project Bhagirathi Uttarakhand Tilaiya Project Barakar Jharkhand Tulbul Project Chinab Jammu & Kashmir Tungbhadra Project Tungbhadra Andhra Pradesh.
Karnataka Ukai Project Tapti Gujarat Upper Penganga Project Penanga Maharashtra Uri Power Project Jhelum Jammu & Kashmir Vyas Project Vyas Rajasthan
Punjab
Haryana
Himachal Pradesh
Dear Readers & Aspirants
We have collected some important water Projects in India. Now-a-days GA questions are asking from various section in different views. We hope, it will help you in Competitive exams.
| Project | River | Related State |
| Bansagar Project | Son | Bihar Uttar Pradesh Madhya Pradesh |
| Bargi Project | Bargi | Madhya Pradesh |
| Beas Project | Beas | Haryana Punjab Rajasthan |
| Bhadra Project | Bhadra | Karnataka |
| Bhakhra Nangal Project | Sutlej | Punjab, Himachal Pradesh , Haryana, Rajsthan |
| Bheema Project | Pawana | Maharashtra |
| Chambal Project | Chambal | Rajasthan Madhya Pradesh |
| Damodar Ghati Project | Damodar | Jharkhand West Bengal |
| Dulhasti Project | Chinab | Jammu & Kashmir |
| Durga Barrage Project | Damodar | West Bengal Jharkhand |
| Farakka Project | Ganga, Bhagirathi | West Bengal |
| Gandak Project | Gandaki | Bihar, Uttar Pradesh |
| Ganga Sagar Project | Chambal | Madhya Pradesh |
| Ghatprabha Project | Ghatprabha | Karnataka |
| Girna Project | Girna | Maharashtra |
| Hansdev Bango Project | Hansdev | Madhya Pradesh |
| Hidkal Project | Ghatprabha | Karnataka |
| Hirakud Project | Mahanadi | Orissa |
| Idduki Project | Periyar | Kerala |
| Indira Gandhi Canal Project | Satlaj | Rajasthan Punjab Haryana |
| Jawahar Sagar Project | Chambal | Rajasthan |
| Jayakwadi Project | Godawari | Maharashtra |
| Kakrapara Project | Tapti | Gujrat |
| Kangsawati Project | Kangsawati | West Bengal |
| Kol Dam Project | Sutlaj | Himachal Pradesh |
| Kosi Project | Kosi | Bihar & Nepal |
| Koyana Project | Koyana | Maharashtra |
| Krishna Project | Krishna | Karnataka |
| Kunda Project | Kunda | Tamilnadu |
| Let Bank Ghaghra Canal | Ganaga | Uttar Pradesh |
| Madhya Ganaga Canal | Ganaga | Uttar Pradesh |
| Mahanadi Delta Project | Mahanadi | Odisha |
| Malprabha Project | Malprabha | Karnataka |
| Mandi Project | Vyas | Himachal Pradesh |
| Matatilla Project | Betwa | Uttar Pradesh Madhya Pradesh |
| Mayurakshi Project | Mayurakshi | West Bengal |
| Minimato Bango Hasdeo Project | Hasdeo Bango river | Madhya Pradesh |
| Muchkund Project | Muchkund | Odisha Andhra Pradesh |
| Nagarjunsagar Project | Krishna | Andhra Pradesh |
| Nagpur Power Project | Koradi | Maharashtra |
| Narmada Sagar Project | Narmada | Madhya Pradesh Gujarat |
| Nathpa Jhakri Project | Sutlaj | Himachal Pradesh |
| Panam Project | Panam | Gujarat |
| Panama Project | Panama | Gujarat |
| Panchet Project | Damodar | Jharkhand West Bengal |
| Pong Project | Beas | Punjab |
| Poochampad Project | Godawari | Andhra Pradesh |
| Purna Project | Purna | Maharashtra |
| Rajasthan Canal Project | Sutlej, Vyas, Ravi | Rajasthan Punjab Haryana |
| Ramganga Project | Ramganga | Uttar Pradesh |
| Rana Pratap Sagar Project | Chambal | Rajsthan |
| Ranjeet Sagar Project | Ravi | Punjab |
| Rihand Project | Rihand | Uttar Pradesh |
| Salal Project | Chenab | Jammu & Kashmir |
| Sardar Sarovar Project | Narmada | Madhya Pradesh Maharashtra Rajasthan |
| Sarhind Project | Sutlaj | Haryana |
| Sharawati Project | Sharawati | Karnataka |
| Sharda Project | Sharda, Gomti | Uttar Pradesh |
| Shivsamundram Project | Kaveri | Karnataka |
| Sutlaj Project | Chinab | Jammu & Kashmir |
| Tawa Project | Tawa | Madhya Pradesh |
| Tehri Dam Project | Bhagirathi | Uttarakhand |
| Tilaiya Project | Barakar | Jharkhand |
| Tulbul Project | Chinab | Jammu & Kashmir |
| Tungbhadra Project | Tungbhadra | Andhra Pradesh. Karnataka |
| Ukai Project | Tapti | Gujarat |
| Upper Penganga Project | Penanga | Maharashtra |
| Uri Power Project | Jhelum | Jammu & Kashmir |
| Vyas Project | Vyas | Rajasthan Punjab Haryana Himachal Pradesh |
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