Whistleblower- The Unsung Hero

By

Maansi Verma

What he did,

      isn’t difficult to understand,

the question which lingers is,

      “ why he took this stand ?”

Like others, he could have ignored it,

      turned a blind eye,

but something within him poked him,

      and turned an ordinary man into a spy.

The news wasn’t new to people,

       they knew it was happening,

but they kept quiet,

       they couldn’t jeopardize their living.

But he didn’t seem to care,

       for nothing could be greater than honesty,

and so he took this bold step,

       and was made to pay for it dearly.

One fine afternoon,

       he was shot dead,

no proof, no witness,

       he was no longer a threat.

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It’s all about coal for the investors’ soul!

By Sonali Banerjee

We all know and agree that black is sexy. But just how much, was proven beyond point at the Coal India IPO, which at a staggering $3.5billion or roughly Rs.15000 crore, is the biggest IPO in the history of corporate India. ‘Black Gold’ seems to rule the roost, as is very much evident from the big numbers.
To start with, the disinvestment plan had to face many hiccups with TMC Chief and Railway Minister Mamata Banerjee objecting to the move. Her concern was that the divestment plan would upset workers at CIL (Coal India Ltd.) which had its headquarters and a major preserve at Kolkata. This might adversely affect her and her party’s chances at the coming elections. But the plan was ultimately given the green signal by Prime Minister Dr. Manmohan Singh. The government actually plans to sell stake in 15 other state run companies as well. Apart from the problem posed by TMC, there was also a nagging fear as to whether the IPO would be well received by the investors, especially the retail investors, or not. Also the not so successful divestment of another PSU, Satluj Jal Nigam Ltd. (SJVL), earlier that year did not present a good precedent.
The divestment of 10% stake in this Navratna company, which is the world’s largest coal producer, was expected to generate about Rs. 15000 crore for the government with around 632 million shares up for sale. But the term bullish was given another meaning altogether during the whole auction process which ultimately generated Rs. 2.36 lakh crore, over 15 times the original targeted amount. All skepticism regarding the offer being accepted was put to rest as both foreign and retail investors showed a great deal of optimism in this issue. The offer saw average retail size increase to Rs. 70000-75000 from the generally witnessed Rs.40000-45000. Around the time of the issue foreign institutional investors (FII’s) had also been showing a lot of interest and confidence in the Indian markets unlike the time when the decision for divestment was taken. For the Coal India IPO alone, they have put in bids worth Rs 1.20 lakh crore.

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Festive delight for the automobile industry!

By Vishakha Khemka

The month of October was a month of joy and celebration  because of the advent of the beautiful festival –Diwali.
Most Indian business communities begin the financial year on the first day of Diwali but this year the Automobile Manufacturers found all their hands in oil, when demand for cars and two wheelers rocketed up during the build up to Diwali, in the month of October 2010.

The Total two-wheeler sales increased by 50.4% and following its footsteps, three-wheeler sales rose by 25.3% and that of the commercial vehicles rose by 18.17% as per the data released by the Society of Indian Automobile Manufacturers (SIAM).

The buoyant season brought a smile to many faces and some alleged that easy financing, new launches and festivities were few of the many reasons behind this smile.

In the words of Mr. Vishnu Mathur [Director- General,(SIAM)]:

“October demand was good due to the festive season. Basic fundamentals of the industry remain strong. Interest rates continue to be favorable despite a marginal increase and there is a strong availability of financing. New model launches also helped increasing the excitement in the market and creating demand.” 

Along with the domestic sales the automobile exports also augmented by 30.5%. Export of three-wheeler’s rose 73.0% and that of the two-wheeler’s rose by 31.8%, making India a bright spot for the automobile market.

Indian carmakers maintained double-digit sales growth in October due to the robust demand and is expected to grow by 18-20 percent in the fiscal year that ends in March, boosting incomes and consumer spending.

Vehicle sales touched an all-time high this October enhancing the joyfulness of the people and adding a moment of bliss and ecstasy to the infinite, beautiful memories of their lives!