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kno ure customs watched having customised items,romping.have thier kyc been checked by rbi ,fin min any time. supposed to guard or gaud our financial frontiers.filmed to be mailed later to integrate with,,,integrity.govt parlance know your customs.filmed fins swaying around.bottom of the iceberg yet to rech the top....
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Kalpana Morparia, regarded in the Indian financial sector as one of the public faces of ICICI Bank and a trouble-shooter for the group, has quit. She will now head financial services major JP Morgan’s operations in India. Ms Morparia had a dominant role in the transformation of ICICI from a development finance institution into the country’s second-largest bank during her stint of over three decades with the group.
In a statement issued here on Thursday, JP Morgan chairman and chief executive of JPMorgan Asia Pacific, Gaby Abdelnour said that the “appointment of Kalpana Morparia as chief executive officer for Indian operations offers JP Morgan a tremendous opportunity to accelerate the progress we have made in building our Indian franchise.”
Ms Morparia said that she was very excited with the opportunity provided to her. “India has enormous potential for a bank of JPMorgan’s size and scale,” she said.
Ms Morparia, who started her career in ICICI in their legal department, was seen as the legal brain behind various deals and structures which led to the creation of the present ICICI Bank. These included the acquisition of a host of finance companies leading to the reverse merger of ICICI with ICICI Bank. Even after the merger, ICICI continued its acquisition spree, adding Bank of Madura and Sangli Bank to its fold.
She was ICICI’s public face at various global meetings which included interactions with potential investors and was also at the forefront of bad debt resolution in the institution.
However, where she may have lost out within the group was in pulling off the proposal to float a separate holding company. This would have enabled ICICI to hive off its shareholdings in the asset management and insurance business into a separate company. Atlhough ICICI had found investors who were willing to buy a five percent stake in the holding company for close to half a billion dollars, the deal did not fructify as the banking regulator objected to the intermediate holding structure.
As the designated chief of the proposed holding company, the deal was Ms Morparia’s last major responsibility before her retirement from the board in 2007.
Bankers reckon that in the coming days, there could be top management changes underway in ICICI Bank. CEO KV Kamath is now expected to be appointed as chairman in place of N Vaghul while Chanda Kochhar who is now joint managing director and CFO is tipped to be the next CEO of the bank.
Incidentally, JP Morgan was for a few years, ICICI’s equity partner in its investment banking, primary dealership and asset management business. Since then, JP Morgan has brought in between $750 million and $ 1 billion through the private equity route. Its principal investments in India are believed to be in the region of around $500 million. The bank, which has been relatively unscathed by the subprime crisis, has ambitious plans for India.
The US bank’s operations were earlier headed by Dominic Price who moved to Vietnam several months ago. Since the exit of Mr Price, JP Morgan had been hunting for a CEO. It had sounded out a few foreign bank heads for the position and finally zeroed in on Ms Morparia.
JP Morgan has been growing at close to 50% in India during the past couple of years. It has a banking licence in India and last year forayed into the asset management business. The group also has a strong investment banking and primary dealership business in the country.
-ET...
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BIG PICTURE
* India Aug 16 WPI inflation 12.40% vs 12.63% week ago (NW18)
* Japan Credit Rating Agency affirms India\'s BBB+ sovereign rating (NW18)
* India to sign free trade agreement with ASEAN in December. (NW18)
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HOME FRONT—
* Lok Sabha poll likely in April 2009 (DNA)
* India to ask Bangladesh for action against HUJI terrorists (PTI)
* PM announces 10 bln rupees, 125,000 tn foodgrains for Bihar (PTI)
* Death toll in India floods rises to 87 (CNN)
* Soren will seek trust vote Friday (ToI)
* Hundreds flee home after Hindu-Christian clashes in Orissa (AFP)
* Promiscuity of victim no excuse for rape, says Supreme Court (DNA)
FOREIGN AFFAIRS—
* Gustav hits Jamaica; Haiti says 51 dead (CNN)
* China voice unease on Russia\'s recognition of Georgia\'s regions (WSJ)
* US troops indicted in Afghan bribe case (CNN)
* Anwar sworn in to Malaysian parliament (var)
* UN concerned over civilian casualties in Jammu & Kashmir (PTI)
...
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* LA casino king ready to gamble big on India (FE)
* Mayawati joins Sonia on Forbes list of most powerful women (ToI)
* Gujarat film portrays \"Patel Motel\" on moon (ToI)
* RBI phasing out 1996 series 500 rupees, 1,000 rupees notes (var)
...
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We do not favour RIL and RPL calls at present since refining stocks are under pressure at present.
...
In reply to:
Mukesh Ambani decries Singur agitation
Posted by :
vrp07
hi sirgi
it is aright time to enter market
i want to buy DLF 420 PUT
AISO LOWER LAVEL
RIL CALL@2300
RPL CALL@175
WHATS YOUR VIEW
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yes, outlooks seems quite grim. But you should not go in puts of DLF because company is pursuing buyback program which will imply company itself will be buying lots of shares from open market thereby the stock necessarily does not need to go and revisit the lows created earlier some weeks back. So, be cautious and choose a better stock.
...
In reply to:
Mukesh Ambani decries Singur agitation
Posted by : vrp07
hi sirgi
it is aright time to enter market
i want to buy DLF 420 PUT
AISO LOWER LAVEL
RIL CALL@2300
RPL CALL@175
WHATS YOUR VIEW
Tracked by: 0 Boarder
hi sirgi
it is aright time to enter market
i want to buy DLF 420 PUT
AISO LOWER LAVEL
RIL CALL@2300
RPL CALL@175
WHATS YOUR VIEW
...
In reply to:
Mukesh Ambani decries Singur agitation
Posted by :
zoombusiness
Mr Mukesh Ambani, Chairman and Managing Director of Reliance Industries Ltd, decried the agitation going on in Singur against Nano plant of Tata Motors.
“A fear-psychosis is being created to slow-down certain projects of national importance,” Mr Ambani said in a press statement here. He said that such moves would be counter-productive for the economic growth of the country as well as our ability to attract investments across the world.
“The Nano Project is a unique and innovative initiative which will establish India’s position as a small car hub. The Indian Industry must be encouraged to make such large investments in order to build the country’s competitiveness as well as support job creation,” he said.
Mr Ambani himself is facing problems with regard to the land acquisition for his proposed Navi Mumbai SEZ and Mumbai Special Economic Zone Company (MSEZ). Mr Ambani, in his statement, urged the Indian industry and the political leadership in the country to work together to deliver on the aspirations of the millions of Indians in urban and rural areas.
-BL
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Mr Mukesh Ambani, Chairman and Managing Director of Reliance Industries Ltd, decried the agitation going on in Singur against Nano plant of Tata Motors.
“A fear-psychosis is being created to slow-down certain projects of national importance,” Mr Ambani said in a press statement here. He said that such moves would be counter-productive for the economic growth of the country as well as our ability to attract investments across the world.
“The Nano Project is a unique and innovative initiative which will establish India’s position as a small car hub. The Indian Industry must be encouraged to make such large investments in order to build the country’s competitiveness as well as support job creation,” he said.
Mr Ambani himself is facing problems with regard to the land acquisition for his proposed Navi Mumbai SEZ and Mumbai Special Economic Zone Company (MSEZ). Mr Ambani, in his statement, urged the Indian industry and the political leadership in the country to work together to deliver on the aspirations of the millions of Indians in urban and rural areas.
-BL...
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Heaven is where the home is. There are the chief ministers like Sh. Narendra Modi whose continuous ruling of atleast three terms at the state helm is purely on the basis of achievements on growth front and maintaining communal harmony. Maharashtra case also does not present any weak picture. Small developmental works are the jobs to be done by local corporation bodies. On personal fronts he has something really big that none else has done so far. Tell me even a single CM who has given actors like Ritesh Deshmukh !...
In reply to:
It is now over to London 2012.China Win.
Posted by : jeet_597
Yes Indeed it was spectacular. It was also well organised and a very great performance.
China is gradually turning into a superpower.
Our Cheif Minister in Maharashtra said that he wants to make Mumbai into a "Shanghai". Little does he know that he has a lot of homwork to do.
First he has to filling up the potholes all over the city. This itself is a record in a way. Then he should stop burning of garbage at every street corners. The momebt you land in Mumbai the sky looks hazy and you can snmell the stench of something burning.
At the same time my heart burns too because I was born here and I love this city.
Jeet
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Sector News
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Fdi: India Jan-Jun Foreign Direct Investment Inflow At $20 Bln. (Nw18)
.
Financial Services: Citigroup Global Markets Has Lowered 2008-09 (Apr-Mar)
Earnings Estimate Of Companies Figuring In Bombay Stock Exchange\'s 30-Share
Sensex To 17% From Its Earlier Projection Of 20%. (Nw18)
.
Mutual Funds: Central Vigilance Commission Has Not Approached Employees
Provident Fund Organisation To Probe Appointment Of Three Private Sector Fund Managers. (Nw18)
.
Oil: State-Run Oil Retailers Submit Proposal To Government For Diesel To Be Sold To Industries At 57 Per 1 Litre. (Nw18)
Government Serves Notice To Oil Companies For Delay In Payment Of
Royalty. (Et)
Indian Oil, Bharat Petroleum And Hindustan Petroleum Have Asked
Government For $4 Bln As A Direct Foreign Exchange Loan From Rbi To Finance Their Growing Credit Needs. (Fe)
.
Retail: Dubai-Based Emke Group, Promoters Of Lulu Retail Chain, To Set Up A 2-Mln-Sq-Ft Shopping Mall And A Five-Star Hotel In Kochi At An Investment Of 12 Bln Rupees. (Nw18)
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Real Estate: Foreign Direct Investment In Real Estate Would Not Be Exempted From The Mandatory Three-Year Lock-In Period In The Case Of Mixed Projects That Include Hotel And Tourism Activities. (Et)
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Telecom: Mobile Growth Hits New Peak; 9.22 Mln Wireless Users In July. (Bl)
Bharat Sanchar Nigam, Bharti Airtel, Tata Communications, And Saudi
Telecom Are Investing Around $400 Mln In An Undersea Cable Link - Europe
India Gateway Cable. (Fe)
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Stocks
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* Acc: Lic Ups Stake In Acc By 2% To 16.8% Over 5 Months. (Nw18)
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* Bharat Heavy Electricals: And Heavy Engineering Corp To Sign Forging
Equipment Jv Sep 6. (Nw18)
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* Britannia: To Raise Product Prices To Offset Spurt In Input Costs. (Nw18)
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* Emami: Seeks Overseas Acquisitions To Drive Growth. (Toi)
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* Eicher Motors: To Up Prices Of 3 Royal Enfield Mobike Models Sep 1. (Nw18)
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* Hcl Technologies: To Buy U.S.-Based Control Point Solutions For $20.8 Mln By
September-End. (Nw18)
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* Idbi Bank: Hikes Deposit Rates By Up To 75 Bps. (Nw18)
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* Info Drive Software: Acquires 51% Stake In U.S.-Based Technoprism. (Nw18)
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* Infosys: To Buy U.K.-Based Axon Group For 407.1 Mln Sterling. (Nw18)
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* Kanoria Chemicals And Industries: To Set Up A Separate Company For Proposed
Foray Into Mozambique For Manufacturing Caustic Soda And Other Alkalies.
(Nw18)
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* Motilal Oswal: Motilal Oswal Venture Capital Advisors Has Floated A
7.5-Bln-Rupee Domestic Real Estate Fund Called India Realty Excellence Fund.
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* Oil And Natural Gas Corp: May Rope In Norway\'s Statoilhydro As
Krishna-Godavari Gas Block Co-Operator. (Nw18) Has Notified Four New Oil And Natural Gas Discoveries--Three Onshore And One Offshore--To The Upstream Regulator Directorate General Of Hydrocarbons Since
Jul 28. (Nw18)
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* Puravankara Projects: Arm In Talks With Four Private Equity Funds To Raise
About 7.5 Bln Rupees. (Nw18)
.
* Ranbaxy Laboratories: Government Review Unlikely To Alter Daiichi Sankyo
Open Offer For The Company\'s Shares. (Nw18)
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* Reliance Industries: May Transfer 80% Of Its Participatory Interest In The
Famous D6 Block In The Krishna Godavari Basin To Four Unlisted Subsidiaries. (Et)
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* Tata Metalliks: Receives Maharashtra Iron Ore Mine Prospecting Licence.
(Nw18)
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* Tata Motors: Bengal Chief Minister Buddhadeb Bhattacharjee Has Requested Mamata Banerjee To Meet Him \"Personally\" On Singur Row. (Nw18)
Plans To Export Its Recently Launched Indica Vista In The Next Six
Months. (Fc)
Plans To Roll Out Next Generation Variant Of Indigo And A New Crossover
Vehicle Between Safari And Sumo. (Toi)
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* Wipro: To Launch Unza\'s Personal Care Brand Romano In India This Month. (Et)
...
Tracked by: 0 Boarder
Yes Indeed it was spectacular. It was also well organised and a very great performance.
China is gradually turning into a superpower.
Our Cheif Minister in Maharashtra said that he wants to make Mumbai into a "Shanghai". Little does he know that he has a lot of homwork to do.
First he has to filling up the potholes all over the city. This itself is a record in a way. Then he should stop burning of garbage at every street corners. The momebt you land in Mumbai the sky looks hazy and you can snmell the stench of something burning.
At the same time my heart burns too because I was born here and I love this city.
Jeet...
In reply to:
It is now over to London 2012.China Win.
Posted by : TrueCompanion
Prominent Highlights >>
IOC President Jacques Rogge, who will officially close the Games at the ceremony, praised China for an "impeccable" operation that had set the bar very high for 2012 hosts, London.
The Chinese spent a record $43 billion on the Games, and it showed. The budget for the London 2012 Olympics is three times smaller and the British are making clear they will not even try to emulate the Beijing epic.
Michael Phelps swam into the record books by winning an astonishing 8 gold medals in the translucent Water Cube. On the track, Jamaica's Usain Bolt captivated the crowds with three sprint gold medals, all secured in world record times.
Showing the sporting extravaganza had lost none of its lustre, the Games also looked certain to become the most viewed in their 112-year history, with audience figures up between 20 and 30 percent on 2004 levels.
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Prominent Highlights >>
IOC President Jacques Rogge, who will officially close the Games at the ceremony, praised China for an "impeccable" operation that had set the bar very high for 2012 hosts, London.
The Chinese spent a record $43 billion on the Games, and it showed. The budget for the London 2012 Olympics is three times smaller and the British are making clear they will not even try to emulate the Beijing epic.
Michael Phelps swam into the record books by winning an astonishing 8 gold medals in the translucent Water Cube. On the track, Jamaica's Usain Bolt captivated the crowds with three sprint gold medals, all secured in world record times.
Showing the sporting extravaganza had lost none of its lustre, the Games also looked certain to become the most viewed in their 112-year history, with audience figures up between 20 and 30 percent on 2004 levels.
...
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Is there any move to buy RPL buy cheverlon as C.J.Mathews Sankarathil,MBA says,if so the Rpl will cross Rs.200/- this month.If it cuts Rs.200/- it may outperform Essaroil,cairn within no time. ...
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Oh what a gentleman Ratan.. did u hear him speak?? He said *if its felt we are stealing livelihood we will accept it even if its not true*.... oh it was so touching... he is so honest and unassuming... character shines though he is not the vibrant kind....
Mamta Banerjee was speaking all nonsense when i heard her last on the issue and BB is just playing safe politics. LOL
Hari bol jai bol, may all the retards be thrown out of Indian Politics by Kanhaya today... lets pray on this krsna janmashtami that our political scene wears a new look, that our politics becomes the talk of the nation, that we get fresh young honest go getters who detest hypocrisy, and of course lets pray the new set of politicans make goverance as efficient as our railways or postal services. It should be stylish to talk indian politics from today.. Hope kanhaya ensures it.... looking at all these mamta and devegowda the sane youth have run away overseas, may they return, may they take responsiblity and take us to new frontiers.......
In reply to:
A “na” to Nano will invite a “no” to Bengal.
Posted by : arg_s
it looks as though west bengal will go back to old 1970-72 situation when both CPM and Naxalites imagined that they should drive business and industry out of West Bengal and successfuly ruined the economy. Tata should withdraw from west bengal, even incurring loss in doing so, and allow west bengal to chose to be in the bottom of the list of indian states, not only alphabetically, but also by economic standards.
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