Amway plans to introduce more products

SURAJIT KHAUND
BADDI, (Himachal Pradesh), Aug 30 – Buoyed by the response from the India market, the leading direct selling company, Amway is planning to infuse additional funds in its main manufacturing unit -Sarvotham. The unit located at Baddi covering an area of 150,000 square feet, will be enhanced its capacity in order to growing demands of Amway products in the market. The production unit which was commissioned in 2005 with an investment of Rs 50 crore, produces about 85% of Amway products in India. It has rain water harvesting system, in-built effluent treatment plant and has complied all environmental norms.

While addressing a group of visiting reporters, William S Pinckney, Managing Director of Amway India, said that the company is planning to triple the capacity of the Baddi plant by pumping an additional amount of Rs 55 crore. “We started operation in India in 1998, and now it has become a major market for the company,” he said while sharing his future plans with the media people. Pinckney, however, observed that market penetration of direct selling industry in India is still low. “The present volume of business of direct selling industry in India is nearly Rs 3000 crore which can be increased to manifold,” he added.

On future plan of Amway, he informed that the company is now in the process of launching more products during the current year. “The Vitamin and dietary supplement market is poised to grow by 33% by 2013. Over 50% of Amway’s business comes from the sale of dietary supplements,” Pinckney added.

North East market: North East India has emerged as a major market for the company. The company has been able to achieve a sizeable market share from the region. “Our growth in the region is around 44%. But, considering the upswing in demands of our products, we are targeting more growth in the North East,” he informed.

In 2008, the total volume of business of Amway in the North East was around Rs 28.70 crore. The figure has gone up to Rs 41.24 crore during the current year. It has also provided employment opportunities to 45,000 distributors in the region. ASSAM TRIBUNE

New rules for credit card holders?

GP Baroowa
The credits cards have become one of the most prominent ways of payment that are being used by a large number of people for payment.

A new legal provision has been put in place to realise the dues from the salaries of the credit card holders. What is really a credit card? What is the function of credit cards?

The use of credit card is like a double edged sword. When used judiciously and with good intention it is helpful to the users. When used recklessly it creates problem for the users. The payment of credit card must be made in time.

Though credit card allows payment to be made slowly every month this facility should not be availed off, by salaried persons, as it is a very costly option.

The credits cards have become one of the most prominent ways of payment that are being used by a large number of people for payment. It is not possible to keep the cash every time with yourself when you are on move. Cheques are not accepted by many of the sellers, as there are chances of bouncing of cheques. But these cards act as safer ways for paying for the desired products.

The interest charge for the outstanding dues is over 40%. The money kept in fixed deposit of bank is paid at the maximum rate of 9% interest now a days. Whereas for any outstanding amount of the credit card interest charged is around 40%. So even if credit card is used the money should be paid immediately on receipt of the bill to be cost effective.

Recently important steps have been taken in respect of the credit card. The first, in case of credit card default the money can be deducted from the salary of the card holder and the second, is the introduction of PIN number to save the card holders from defrauding. The new rules have been introduced as per directive of the RBI. Now it is the responsibility of the credit card holders to apply this PIN number from their respective banks. This method is likely to counter misuse of credit cards.

Recently a provision has been made by the bank in case any employed person does not pay the credit card dues on time it would be possible for the banks to realise the amount from the salary of the person concerned. Now employed person should be aware of this provision. This may lead to a serious problem for the credit card holders. Their credit rating may go down and ultimately it might create a black spot in their career.

ICICI will be the first bank to utilise this concept. While issuing credit card from now onwards they would bind the holders in such a way that in case payments are not received during the due dates the bank would be in a position to approach their employers to deduct the dues from the salary legally and pay to the bank. This provision would be made legally foolproof and others banks are also expected to follow the rule while issuing credit card.

It must be kept in mind that default in credit card payment not only bring bad name to non payer but may also destroy credit worthiness of the persons concerned. So now days beware of credit card default. Regular payers of credit card would have great advantage in building their credit worthiness.

Readers can send their feedback to gpbarua@yahoo.co.in ASSAM TRIBUNE

Amway in exapansion mode to triple production capacities

By a Staff Reporter
BADDI (Himachal Pradesh), Aug 30: India’s leading Direct Selling FMCG, Amway India Enterprises Pvt Ltd, is in the process of tripling its production capacities by the year-end. The Direct Selling (DS) giant, which grew by 40 per cent in recession hit by 2008, touching Rs 1128 crore (from Rs 800 crores in 07), expects to touch sales of Rs 2500 crores by 2012. “DS is a recession-resilient industry that provides an opportunity to bloster household incomes to people with limited means,” said William S Pinckney, MD and CEO of Amway India enterprises Pvt Ltd. He added that around 85 per cent Amway products sold in India were manufactured by Amway’s leading vendor Sarvotham care, at Baddi. Working at the Baddi plant started around mid-May and is expected to be completed by December 2009. Four new lines would be added to the existing five lines and will involve investments of around Rs 55 crores, and will see the tripling of production capacities, significantly, Amway’s key range of products nutrition and wellness. “The Vitamin and dietary supplement market is poised to grow by 33 per cent in India by 2013. It is a known fact that rapid urbanization, incresed incomes, consumption patterns and correlated stress, takes its toll on health. Over 50 per cent of Amway’s nutrition and wellness products will fulfill this growing need of consumers,” reiterated Pinckney. THE SENTINEL

Vedi appointed as new CMD

JORHAT, Aug 30: Mr G S Vedi taken over as Chairman and Managing Director of Punjab & Sind Bank on August 26, 2009. Prior to present assignment Vedi was Executive Director with Punjab & Sind Bank since October, 2008. He had a brief stint as Executive Director with Canara Bank also. Vedi has more than thirty nine year of experiences in the banking industry. Vedi was also working as Regional Manager for NE Region at Guwahati. THE SENTINEL

OIL IPO to hit market soon

GUWAHATI, Aug 29: Oil India Limited (OIL) has launched its first Initial Public Offering (IPO). Public issues will start on September 7 and end on September 10.

The price has been fixed between Rs 950 and Rs 1,050 per equity share for an IPO of 26,449,982 equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent book building process. The issue comprises a net issue to the public of 24,045,438 equity shares and a reservation of 2,404,544 equity shares for subscription by eligible employees at the issue price. The issue will constitute 11 per cent of the fully diluted post-issue capital of the company.

At least 60 per cent of the net issue is required to be allocated to Qualified Institutional Buyers (QIB) on a proportionate basis out of which 5 per cent shall be available for allocation on a proportional basis to mutual funds. Further, not les than 10 per cent of the net issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 30 per cent of the net issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid bids. The minimum bid lot size is six equity shares. THE SENTINEL

Birla Sun Life Mutual Fund Declares Dividend for Tax Relief '96

Birla Sun Life Mutual Fund has declared dividend under dividend option of Birla Sun Life Tax Relief '96. The record date for the dividend is set as August 31, 2009.

The quantum of dividend is 40% i.e. Rs 4.00 per unit on the record date on face value of Rs 10 per unit. The NAV of the scheme was at Rs 78.41 per unit as on August 25, 2009.

Birla Sun Life Tax Relief '96 an open ended equity linked savings scheme with an objective of long term growth of capital through a portfolio with a target allocation of 80% equity, 20% debt and money market securities and with a lock-in of 3 years.

JM Financial MF Announces Dividend

JM Financial Mutual Fund has declared dividend under daily dividend option for JM Floater Fund - Long Term Plan as well as JM Money Manager Fund, JM Floater Fund - Short Term Plan and JM High Liquidity Fund. The record date for the dividend is set as August 26, 2009.

The scheme names, options and the quantum of dividend as on the record date are as follows:

Scheme Name Individual Corporate NAV Per Unit (Rs.) *DIV Per Unit (In Rs) *Dividend % DIV Per Unit (In Rs) ** Dividend % JM Floater Fund - Long Term Plan JM Floater Fund-Long Term - Premium Plan - Daily Dividend 0.00012078 0.00120781 0.00011241 0.00112414 10.0031 JM Floater Fund-Long Term - Regular Plan-Daily Dividend 0.00011842 0.00118417 0.00011021 0.00110214 10.0031

NHPC to be listed on Sept 1

NHPC would be listed on the stock exchanges on September 1, 2009 on Bombay Stock Exchange. "From September 1, the equity shares of NHPC Ltd shall be listed and admitted to dealing in the exchange," the Bombay Stock Exchange (BSE) said in a statement today.

The company raised Rs 6,000 crore through its initial public offer (IPO) that closed on August 12. It had come out with 167.73 crore shares in the primary market in the price band of Rs 30-36.

Over one-third stake is being held by the government in NHPC, which is the sole promoter of the company.

The IPO proceeds would be used to part fund the company's ongoing investments in 11 projects. It also has plans to add 14,000 MW of power by 2020 for which it has either completed survey of projects or was in the process of surveying several others.

Jindal Cotex IPO subscribed 24% on first day

The initial public offer (IPO) of the Jindal Cotex received subscription for 24 per cent of the issue on offer on its introduction on 27th August 2009. The company got a total 27.52 lakh bids for it shares, representing 0.24 times of the offer size, according to the data available with the National Stock Exchange (NSE).

The company has entered the capital market with an issue size of 1.24 crore shares in the price band of Rs 70-75. On the first day of offer, the issue was in maximum demand (0.36 times) from non-institutional investors for whom 1.61 lakh shares has been reserved by the company.

In addition, around 50 per cent of the issue size has been reserved for the qualified institutional buyers, which subscribed 0.24 times. At the upper end of the price band, the company expects to get a Rs 93.40 crore, while at the lower end it would raise Rs 87.17 crore.

Meanwhile, the company would utilize the IPO fund for setting up a new facility for making cotton yarn and yarn dyeing. The company would also invest funds in its two subsidiaries Jindal Medicot and Jindal speciality Textiles.

Common online platform for MF soon

Mutual funds might be among the most popular investment products but the method of investing is not investor friendly as it could take three days to try to switch from units of one fund house scheme to another, but the forthcoming mutual fund industry online platform promises to put an end to it.

Moreover, it is said that in case of the mutual fund industry, a central database is not available hence if you have investments in 15 different schemes then you will get 15 different statements therefore the Association of Mutual Funds of India (AMFI) is planning to launch a common mutual fund platform in six months, with depositories NSDL/CDSL, and mutual fund registrars KARVY/CAMS as partners which will help investors view their entire portfolio on a single portal and switch between schemes of different fund houses.

In addition, the four partners will share the initial cost, while fund houses will pay for the services on the platform. In the meantime, for several mutual fund investors, a common database will save a lot of hardships meaning convenience at the click of a button while such a platform could be a game changer for the industry.

NHPC IPO Listing Info

NHPC IPO Listing Date

NHPC informed in a circular that was sent to BSE today that the stock will be listed in the market on September 1 2009.Date of Allotment was made on August 25, 2009.

NHPC Listing Info

IPO Listing Date: Tuesday, September 1, 2009
BSE Script Code: 533098
NSE Symbol: NHPC
Listing in: ‘B’ Group of Securities
ISIN: INE848E01016
Issue Price: Rs. 36/- per share
Face Value: Rs 10/- Per Equity Share

Registered Office:
NHPC Office Complex
Sector – 33, Faridabad
Haryana, India.
Tel: +91 129 227 8421
www.nhpcindia.com

Jindal Cotex IPO to hit capital market

Jindal Cotex, a textile company is going to open its initial public offer from today (27th August 2009). The company is coming with 1.24 crore shares for public subscription. Meanwhile, price band for the issue is at Rs 70-75.

The company expects to get Rs 93.40 crore at the upper price band, while at the lower price band it hopes to raise Rs 87.17 crore.

Up to 50 per cent of the issue would be allocated to Qualified Institutional Buyers (QIBs).

The fund of the forthcoming issue would be used primarily to enter technical textile space through investment in wholly-owned subsidiaries Jindal Medicot and Jindal speciality Textiles.

JINDAL COTEX IPO on 27th August 2009

JINDAL COTEX IPO on 27th August 2009

JINDAL COTEX LIMITED

Symbol – Series JINDCOT EQ

Issue Period Aug 27, 2009 to 1st September 2009

Issue Size 1,12,50000 equity shares (excluding promoters contribution of 12,03,894 equity shares)

Issue Type 100% Book Building

Face Value Rs. 10/- , Price Range Rs. 70 To Rs. 75.

Market Lot 90 Equity Shares

Minimum Order Quantity 90 Equity Shares

Maximum Subscription Amount for Retail Investor Rs.100000

IPO Grading BWR IPO 3

Name of the registrar Bigshare Services Private Limited

Maruti Suzuki launches all New Estilo with K-series engine

Maruti Suzuki launches all New Estilo with K-series engine

Maruti Suzuki informed the market that it has launched all new Zen Estillo which has k-series engine and also very good and bold look than the previous one , think look was soemthing that was not really planned for the first version of the Estillo, think they took care of it now .

Toyota launched SUV Fortuner

Toyota Fortuner is something that is a SUV that is runnign globally and it was the year i came back from US 2005 , they released , It almost took 4 years now to reach india.Toyota india has launched SUV with a Rugged and Tough Performance with sedan like Luxury and Comfort at a very competitive price of Rs 18.45 lakhs (Ex-showroom, Delhi)

Toyota FORTUNER Techincals

>3.0 L D-4D Diesel engine with Intercooler Turbocharger offers highest power (171PS) in mid-SUV segment and maximum torque of 343 Nm.
>Incomparable combination of luxurious interiors and sporty features for an exciting driving experience.
>Full-time 4WD & Toyota Outstanding Platform (TOP) to handle all kinds of terrain – the Real SUV.
>Highest standards of passenger safety – Active safety with ABS & Disc Brakes, passive safety with Impact Absorbing body and SRS airbags for driver and front passenger.
>Available in five exciting body colors – Super White, Silver Mica Metallic, Grey Mica Metallic, Black Mica and Light Blue Metallic.

Indiabulls Power IPO at Rs 50-60 per share ?

Indiabulls Power IPO at Rs 50-60 per share ?

The Indiabulls Power IPO will comprise of 39.1 crore shares. SBI may buy 12% of IPO size in Indiabulls Power and the SEBI nod for the IPO is expected by September 2. The IPO’s price band is seen at Rs 50-60 per share, sources added.

Birla Sun Life MF Declares Dividend for Enhanced Arbitrage Fund

Birla Sun Life Mutual Fund has declared dividend on the face value of Rs 10 per unit under dividend option of Birla Sun Life Enhanced Arbitrage Fund. The record date for dividend is set as August 28, 2009.

The fund house has decided to distribute 0.26% i.e. Rs 0.0260 per unit as divided as on the record date. The NAV of retail plan was Rs 10.0279 per unit while Rs 10.0297 per unit for institutional plan as on August 20, 2009.

Birla Sun Life Enhanced Arbitrage Fund is an open ended equity scheme with an investment objective to generate income by investing predominantly in equity and equity related instruments. The scheme intends to take advantage from the price differentials/ mis-pricing prevailing for stock / index in various market segments (cash & future).

Tata MF Declares Dividend For Fixed Income Portfolio Fund

Tata Mutual Fund has proposed to declare dividend under quarterly dividend option of regular investment and institutional plan in Tata Fixed Income Portfolio Fund - Scheme B2. The record date for the dividend is set as August 28, 2009.

The quantum of dividend will be upto 100% of the returns generated between May 30, 2009 to August 28, 2009 subject to availability of distributable surplus.

The NAV of the regular investment plan was at Rs 10.0748 per unit while institutional plan was at Rs 10.0579 per unit, as on August 20, 2009.

Tata Fixed Income Portfolio Fund is an open ended debt fund with an objective to generate returns and/or capital appreciation as well as minimize the interest rate risk by investing predominantly in a portfolio of debt and money market instruments.

Reliance MF Declares Dividend For Monthly Interval Fund

Reliance Mutual Fund has declared dividend under retail as well as institutional plan in Reliance Interval Fund - Monthly Interval Fund -Series II. The record date for the dividend is set as August 28, 2009.

The fund house has decided to distribute 100% of distributable surplus as dividend on the record date on the face value of Rs 10 per unit for both plans- retail and institutional plans. The NAV of the scheme under retail plan was Rs 10.0339 per unit while under institutional plan, it was Rs 10.0325 per unit as on August 20, 2009

Reliance Interval Fund - Monthly Interval Fund, is a debt oriented interval scheme with an investment objective to seek to generate regular returns as well as growth of capital by investing in a diversified portfolio of Central and state government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan.

Reliance MF Declares Dividend For Tax Saver (ELSS) Fund

Reliance Mutual Fund has declared dividend under Reliance Tax Saver (ELSS) Fund. The record date for the dividend is fixed as August 28, 2009.

The quantum of dividend will be 15% i.e. Rs 1.50 per unit on the face value of Rs 10 per unit for Reliance Tax Saver (ELSS) Fund. The NAV of the scheme was at Rs 12.9860 per unit as on August 20, 2009.

Reliance Tax Saver (ELSS) Fund is an open-ended Equity Linked Savings Scheme with a primary investment objective is to seek to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities.