Nitish Kumar
From
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Quick Update For NRIs, PIOs
Read by NRIs in over 37 Countries
Issue No. 206 Evening Edition IST
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Headline News in this issue:
- PAC slams PM and PMO for letting Raja run amok
- Wipro Meets St Hopes, But Sees Flat Q1 Revenue
- Polaris Buys IdenTrust
- NIIT founder new Nasscom chairman
- Sudip Banerjee quits L&T Infotech
- Bihar CM, Nitish Kumar : Failure To Success Story
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PAC slams PM and PMO for letting Raja run amok
Criticizes PC For Failing To Stop Loss Of Revenue
New Delhi: The Prime Minister’s Office and the PM himself have been put in the dock by the public accounts committee (PAC) in the 2G scam for their inaction despite former telecom minister A Raja leaving no doubt about his plans to go ahead with the controversial allocation of spectrum which has now blown up into a major scam.
Raja, the PAC pointed out, was not stopped despite his writing a letter to the PM on December 26, 2007 spelling out his intention and awarding the licences within just 15 days of that. In its draft PAC report, prepared by the committee chairman, BJP’s Murli Manohar Joshi, the focus is sharply kept on the PMO. Indeed, there are places in the report where the distinction between the PM and his office blurs.
The strictures may appear ironical, given that Singh had volunteered to appear before the very same committee.
(For more details, click: http://epaper.timesofindia.com/Daily/skins/TOINEW/navigator.asp?Daily=TOIM&showST=true&login=default&pub=TOI)
Wipro Meets St Hopes, But Sees Flat Q1 Revenue
Fourth-quarter profit rises 4% sequentially to 1,375 cr as CEO Kurien urges patience
Wipro, India’s third-biggest software services exporter, on Wednesday projected tepid growth in first-quarter revenue. The company, which is in the middle of an organisational revamp involving crunching and dismantling of management layers, said first-quarter revenues for the IT business will either fall 0.4% or grow 1.5% over the previous quarter.
“We’ve made several organisational changes this quarter with the clear objective of trying to simplify the organisation and making us much leaner and faster on our feet. We’ve moved to a single P&L axis which is that of the industry vertical,” Wipro Chairman Azim Premji told a press conference.
In January this year, Premji broke the joint-CEO structure and appointed TK Kurien as the new chief executive with the specific mandate to fire up sales and profitability. The Bangalore-based firm had lagged its peers in sales and profit growth for some quarters and was in danger of losing the No.3 spot to rival Cognizant.
“While all of us love quarter-to-quarter objectives because it keeps you on the treadmill, the reality is that when you are doing the kind of transformation that we are going through, a quarter would be just too short to look at,” Kurien said.
(For more details, click: http://epaper.timesofindia.com/Daily/skins/ETNEW/navigator.asp?Daily=ETM&showST=true&login=default&pub=ET)
Polaris Buys IdenTrust
Chennai-based Polaris Software Lab on Wednesday bought digital identity authentication services provider IdenTrust, following which John Sculley quit as chairman of the firm.
(For more details, click: http://epaper.timesofindia.com/Daily/skins/ETNEW/navigator.asp?Daily=ETM&showST=true&login=default&pub=ET)
NIIT founder new Nasscom chairman
New Delhi: Nasscom has appointed NIIT founder Rajendra S Pawar as chairman and N Chandrasekaran, the CEO and managing director of TCS, as its vice-chairman for 2011-12.
“In the last two years, SMEs have grown very fast. Now, efforts have to be made to broaden and deepen the competitiveness among them,” said Pawar. According to vision 2020, India’s IT software exports would touch $175 billion from the current level of $60 billion.
(For more details, click: 27Apr11 http://epaper.timesofindia.com/Daily/skins/TOINEW/navigator.asp?Daily=TOIM&showST=true&login=default&pub=TOI)
Sudip Banerjee quits L&T Infotech
Bangalore: Sudip Banerjee has quit as CEO of L&T Infotech, a wholly owned subsidiary of technology, engineering and manufacturing leader Larsen & Toubro, to take a break for personal reasons.
“It was really a tough task for me to shuttle between my job in Mumbai and my family in Bangalore every week. I did that in the last three years. Now I have decided to take a break to be with my family,” said Banerjee.
V K Magapu, director, L&T Group, will hold fort till a new CEO is announced, said the company. Former Wipro Technologies joint CEO Girish Paranjpe’s name is also doing the rounds as a possible CEO candidate.
(For more details, click: 27Apr11 http://epaper.timesofindia.com/Daily/skins/TOINEW/navigator.asp?Daily=TOIM&showST=true&login=default&pub=TOI)
Nitish Kumar Chief Minister, Bihar
“Be close to ground realities”
When I failed:
One of my biggest failures was my inability to gauge the mood of the people of Bihar correctly when we contested elections in 2004. We were under the impression that the good work done by the National Democratic Alliance would bring us back to power. But the ground reality was different.
What I learnt:
Be close to ground realities; ground-level issues and social issues are far more important. For the next one year I worked at the ground level.
How it helped me succeed:
The results were there to see in the Bihar assembly elections in 2005. I worked with the people of Bihar and attacked Lalu Prasad Yadav’s strategy of winning votes by misery mongering.
I worked with only one goal of development and nothing has distracted me from that goal in the past five years.
The 2010 elections, where we managed to beat Lalu’s strategy, shows how I have used my learnings.
(As told to PR Ramesh)
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Investment & Wealth Creation Advice (Some Golden Rules)
Please note that our advice is primarily for investors and not for speculators. Investors typically invest with a 12-60 month investment perspective. You will therefore find that our advice does not change substantially from issue to issue. However, it is worth reading it again and again to get your investments on the right tracks as what we have stated below is based on some golden rules of investing.
Indian nationals & PIOs can expect about 15-25% returns year-on-year
Indian capital markets have been thrown open to individual foreign investors in the budget announced recently. Now, PIOs can also invest in Indian Mutual Funds (MFs).
Indian Investors can expect 15-25% returns year-on-year if they invest in MFs which are rated 5-star by rating agencies. It would mean, NRIs, PIOs as well as Resident Indians will be able to double their investments in MFs every 3-4 years, taking almost no risk. So, India offers a great investment opportunity.
NRI.NewsIndia recommends investment in Indian Mutual Funds taking the SIP(Systematic Investment Plan) route. An individual investor may like to schedule weekly or monthly investments in select mutual funds from now onwards.
Kaun Banega Karodpati?
Only Rs. 2,000 per month invested in a 5-star rated mutual fund in India for 30 years, will make you a Karodpati. Most of you can easily do this much investment in your name and/or in the name of each family member.
NRI.NewsIndia Recommends investment in the following Mutual Funds:
1. HDFC Equity Fund
2. Franklin India Blue Chip Fund
3. Birla Sunlife Frontline Equity Fund – Plan A
4. DSP Blackrock Equity Fund – Dividend
5. HDFC Top 200
6. ICICI Prudential Dynamic Plan
7. HDFC Prudence Fund
Do not purchase shares of a good company at a wrong (high) price. Also, do not purchase shares of a bad company even at a very low price.
Do not put all your eggs in one basket. Diversify your portfolio to de-risk. Do not put more than 33% of your investible funds in stocks and/or mutual funds. Put 33% in Fixed-Interest instruments and the remaining 33% in real estate when real estate prices are low.
Do not invest more than 15% of your investment in any one mutual fund, stock or sector.
NRIs & PIOs should not keep all their money in just one country. Keep 20-33% in nationalized banks in India or in private banks like HDFC, ICICI, HSBC etc.
As actors & sportsmen can never be sure about their earnings after 5-10 years, they should invest 50% of their earnings every month in Fixed Deposits, Mutual Funds and Real Estate.
If you suddenly get a few lakhs or a few crores, do not invest the sum in a hurry. Park it in a Fixed Deposit for a couple of quarters. Consult one or two investment advisors and then invest the amount in a proper manner.
Never go by your gut feel or a freind's advice when it comes to investing your money. Always consult one or two investment advisors before you make your investments.
Do not invest in stocks, mutual funds or realty when their prices are quite high. From the high levels, these prices normally come down by about 20-40% and that is when many people lose their hard earned money in a big way. Make sure that you are not one of those big losers.
Also, never take any loan to invest in stocks or mutual funds.
For a FREE First Consultation before investing in Mutual Funds in India, write to psm@amsoftconsulting.com.
Disclaimer: Please make all your investments after taking expert advice. NRI.NewsIndia will not be responsible for losses, if any, incurred by you. Through NRI.NewsIndia, we are only making you aware of the investment opportunities in India at a broad level.
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