Senior docs of N corpn put off strike over dues

New Delhi: Senior doctors of North Delhi Municipal Corporation have suspended their plan to go on strike from Monday over pending salaries and other benefits.

“We have unanimously decided to defer the strike till further notice in general public interest. If our pending salaries, enhanced dearness allowance, 7th Pay Commission arrears pending since 2017 and promotion arrears pending since last many years are not paid by December 31, then we shall be compelled to resume the protest,” read a press statement issued by Municipal Corporation Doctors’ Association.

However, the resident doctors’ association of Kasturba Hospital has decided to continue with their strike. “We want an official order issued for payment of DA as soon as possible,” said Dr Sunil Kumar, president of the association.

A north corporation official claimed, the doctors withdrew their strike following assurances over DA and release of pending salaries. “We will meet the para medical staff and nurses of Hindu Rao on Monday,” said standing committee chairman Jogi Ram Jain.


Salarpuria Sattva to take over part of Cloudtail business





Amazon's action mirrors that of rival Flipkart, which is also limiting the share of each seller's sales on its platform and staying away from having any stake in them.





Salarpuria Sattva to take over part of Cloudtail businessThe Salarpuria Sattva Group, one of the largest real estate developers of the South, has incorporated a company which will take over the entire consumer electronics business of Cloudtail, currently the largest seller on Amazon's marketplace in India, four industry executives said.


The new company, Bengaluru-based Dawntech Electronics, is the first such independent well-funded preferred seller that is getting the business of Cloudtail, which earlier this year announced that it would wind up operations by next May. As per Dawntech's regulatory filings with the Registrar of Companies, Amazon is not a stakeholder.


Amazon is in the process of appointing sellers in other categories to take over from Cloudtail and there too it would not own any stake, the executives said. It will likely finalise a seller to replace Cloudtail in the fashion category next month, said the CEO of a top apparel brand.


Amazon Action Mirrors that of Rival Flipkart

An Amazon India spokesperson said Amazon.in is a pure play marketplace with close to a million sellers from all over India. "Our approach is to enable businesses of all sizes digitally to offer the largest selection to the customers, at great value and with the convenience of fast and reliable delivery," the person said.


Salarpuria Sattva to take over part of Cloudtail business

Emails sent to Salarpuria Sattva, its promoters and Dawntech remained unanswered till Wednesday press time.


Amazon's action mirrors that of rival Flipkart, which is also limiting the share of each seller's sales on its platform and staying away from having any stake in them.


Both companies have been accused by opponents including small traders of operating front companies to sidestep India's regulations that bar foreign-owned marketplaces from selling anything of their own. Critics have also been targeting Infosys founder NR Narayana Murthy for his association with Cloudtail - the seller's holding company, Prione Business Services, is a joint venture between Amazon and Murthy's Catamaran Ventures.


In fact, the allegations and the possibility of regulatory actions might have been among the reasons why Cloudtail is being wound up, the executives said.


However, Amazon continues to hold a stake in the parent company of another leading seller on the platform, Appario Retail, as per latest RoC filings.


Amazon wants companies that have high capital to become sellers on its platform in place of Cloudtail. For large categories like smartphones, there may be two-three sellers taking over the business and Dawntech might also be one of them, the executives said.


Dawntech has already started sales of Samsung and OnePlus televisions on the Amazon platform.


The executives said Cloudtail has stopped buying from consumer electronics brands from this month and is currently liquidating the existing inventory. It significantly reduced buying of FMCG products and apparel from September.


Cloudtail didn't respond to an email seeking comment.


Avneet Singh Marwah, chief executive of SPPL which sells Kodak and Westinghouse electronic brands on Amazon, said his company will start business with Dawntech from December and the business terms remain the same as those with Cloudtail.


As per a recent document from ratings firm ICRA, Dawntech is supposed to primarily sell mobile phones under the electronic goods category.


"However, Dawntech's current balance sheet cannot support operations at the scale on which Cloudtail has been operating and a significant infusion of capital is required," said business intelligence firm AltInfo's founder, Mohit Yadav, who analysed the RoC filings.


The ICRA document noted that Dawntech intends to raise Rs 150 crore as working capital and being a part of the Salarpuria Sattva Group, it enjoys significant financial flexibility by way of support extended from the group and its promoters. It said Dawntech is a special purpose vehicle of the Salarpuria Sattva Group.

Crorepati stocks: 13 firms that turned Rs 1 lakh to over Rs 1 crore in 10 years

 With a rally of 275 times, HCP Plastene Bulkpack emerged as the top gainer in the list. Shares of the company jumped to Rs 660.85 on November 8, 2021 from Rs 2.40 on November 8, 2011.

At least 13 stocks on the BSE have already made investors crorepati on an investment of just Rs 1 lakh during the past 10 years.



At least 13 stocks on the BSE have already made investors crorepati on an investment of just Rs 1 lakh during the past 10 years.

Successful investing needs patience, discipline and the ability to control emotions. If you have these qualities then chances are high that your high conviction bet could make you richer in the domestic equity market going ahead. At least 13 stocks on the BSE have already made investors crorepati on an investment of just Rs 1 lakh during the past 10 years. Analysts are still bullish on a couple of stocks despite the enormous rally in the past.

With a rally of 275 times, HCP Plastene Bulkpack (formerly known as Gopala Polyplast) emerged as the top gainer in the list. Shares of the company jumped to Rs 660.85 on November 8, 2021 from Rs 2.40 on November 8, 2011. The company is engaged in the business of production of plastic articles for packing of goods, such as plastic bags and sacks. It is also engaged in other activities relating to finishing textiles.

HLE Glascoat is next on the list. The scrip has soared 19,955 per cent to Rs 6,869 during the past 10 years. It was followed by NGL Fine-Chem (up 19,703 per cent), Paushak (up 19,454 per cent), Alkyl Amines (up 17,116 per cent) and Caplin Point Laboratories (up 17,041 per cent). Well-known equity investor Ashish Kacholia held 1,91,602 shares, or 1.42 per cent stake, of HCL Glascoat as of September 30.

Progressive Share Brokers is positive on Alkyl Amines with a price target of Rs 4,700. The company posted a 17.38 per cent fall in net profit at Rs 54.09 crore for the quarter ended September 30. However, its revenue from operations jumped 19.71 per cent year-on-year (YoY) to Rs 348.69 crore.

The brokerage said raw material price and freight costs had a strong impact on the quarter performance. Despite the hit on its operational efficiency, the company did perform on the topline. "Alkyl Amines has few small projects in hand which are due for commissioning in the next 6 months along with the Kurkumbh plant to be on stream towards 2022. This would generate benefit to the company," Progressive Share Brokers said in its report.

It is also bullish on Paushak Ltd, with a price target of Rs 15,000. The company is one of the few companies in India (as well as globally) engaged in development and manufacturing of phosgene-based specialty chemicals that require stringent standards and regulations to be followed. The company, a part of Alembic Group, was founded in 1972 and has experience of more than three decades in phosgene chemistry.

"The new projects are largely completed and are in pre-commissioning stage and the benefits of increased throughput from additional facilities are anticipated to be seen in the balance part of this financial year, while the full impact is expected to be seen in FY22-23. Capital work in progress (CWIP) is more or less equal or that of the current PPE (property, plant and equipment), which indicates, there is potential to double the turnover in the next 3-4 years or as and when these phases of development of the plant become live," Progressive Share Brokers said.

Deepak Nitrite, Tanla Platform, Tasty Bite Eatables, Indo Count Industries, Sylam Industries, Bajaj Finance and Astral have also rallied between 10,000 per cent and 14,200 per cent during the same period.

Commenting on Bajaj Finance, brokerage Prabhudas Lilladher said, "Premium valuations are here to stay as Bajaj Finance is now perceived as a profitable fintech lender." It believes that shares of the company could hit Rs 9,092 in the next 12 months.

Overall, the benchmark BSE Sensex has gained around 245 per cent to 60,545 in the past 10 years. On the other hand, broader indices BSE Midcap and Smallcap have gained 316 per cent and 319 per cent, respectively.

While sharing his stock picking strategy, market veteran Saurabh Mukherjea, founder and chief investment officer of Marcellus Investment Managers, told BusinessToday.in that investors should zero in on the companies that have clean accounting, rational capital allocation over the past ten years and dominant franchises with high entry barriers.

Big Bull Portfolio: Motilal Oswal bullish on this stock, sees up to 40% upside

Big Bull Portfolio: Motilal Oswal bullish on this stock, sees up to 40% upside

Motilal Oswal has a 'Buy' rating on the stock, with a target price of Rs 270 per share. It says the bank reported 'healthy' earnings for 2Q FY22, supported by higher treasury gains and recovery from the DHFL resolution.

Shares of Canara Bank rose 5 per cent to hit an intraday high of Rs 203.65 on the BSE (Bombay Stock Exchange) a day after the bank posted its results for the quarter ended September 2021.

 


Canara Bank reported over two-fold jump in its net profit at Rs 1,332.61 crore in the second quarter ended September 2021. The bank posted a net profit of Rs 444.41 crore in the same period of the previous fiscal year. Total income stood at Rs 21,331.49 crore in the September-ended quarter against Rs 20,793.92 crore a year ago.

 

The stock ended 3.85 per cent higher at Rs 200.85 against the previous close of Rs 193.40 on BSE. With a market capitalisation of more than Rs 36,000 crore, the shares stand higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The large-cap stock has gained 128 per cent in the last one year and has risen 56 per cent since the beginning of this year.

 

Motilal Oswal has a 'Buy' rating on the stock, with a target price of Rs 270 per share. The research and broking firm believes the bank reported healthy earnings for 2Q FY22, supported by higher treasury gains and recovery from the DHFL resolution.

 

This recovery was predominantly utilised for making provision of Rs 3,200 crore towards one large corporate account (SREI Infra), and CBK now holds 50 per cent provision for this stressed account.

 

On the business front, the bank witnessed a decent sequential recovery in the growth of its Retail and Agri portfolios, while the weak trend in its corporate book continued.

 

Commenting on the asset quality, it said the bank's asset quality was largely stable despite higher slippages (SREI Infra) and was supported by higher recoveries and upgrades.

 

"We expect Canara Bank’s slippages to moderate as the corporate NPL cycle turns, driving a sustained reduction in its credit costs. We estimate RoA/RoE of 0.8%/13.6% by FY24E," it added.

 

India's ace investor and Dalal Street veteran, Rakesh Jhunjhunwala, also bought the shares of the state-owned Canara Bank, as the shareholding pattern of the lender for the September quarter shows on the BSE website. The filing shows Jhunjhunwala bought a 1.6 per cent stake or 2,90,97,400 shares of the bank.


This is a fresh investment by Jhunjhunwala, whose name was not there in the list of big shareholders in the previous shareholders' data. Like many other big investors, Jhunjhunwala is also bullish on state-owned banks.

 

Technical View

 

According to MarketsMojo, the bank has declared positive results for the last six consecutive quarters. The technical trend has improved from 'Mildly Bullish' on September 27, 2021, and the stock is technically in a 'Bullish' range now.

 

Multiple factors for the stock are 'Bullish' like MACD, Bollinger Band, KST and OBV. The stock is trading at a discount compared to its average historical valuations, and with a return on assets (ROA) of 0.3, it has an 'Attractive' valuation.

Govt identifies 11 champion sectors to boost services exports



Speaking at an event, Darpan Jain, Joint Secretary, Department of Commerce and Industry, said that to boost services export India needs to focus on other crucial sectors, like tourism, healthcare, etc.

So far, out of total services exports, a large chunk of exports comes from the IT and ITes sector.

So far, out of total services exports, a large chunk of exports comes from the IT and ITes sector.


India has set an ambitious target of $1 trillion in services exports by 2030. So far, out of total services exports, a large chunk of exports comes from the IT and ITes sector. Now the focus of the government is to boost services export from some other crucial sectors like tourism, healthcare, education, etc.


"We know that out of total services exports from India, IT and ITes holds a predominant share, but now another 11 champion sectors are identified for our focus attention. And a lot of work has already been done on those champion sectors. But still we have a very long way to go," said Darpan Jain, Joint Secretary, Department of Commerce & Industry, Government of India, on Tuesday. Jain was speaking at the Global Services Conclave organized by the industry body Services Export Promotion Council.


Jain also pointed out that predictions say that maybe by 2040, the share of services in total international trade will overtake goods trade so services export is a very important area.


Quoting some examples, Jain mentioned that tourism sector is also one of the champion sectors. "Worldwide we have over 1 billion people travelling but we have a very small share in that, even smaller than Thailand and Malaysia. Take education sector, we have 5 million students travelling to get admissions and for higher studies, but here in India we get 50,000 students," he added.


Suggesting the ways to boost the services exports, Jain enumerated some key measures that needs to be taken and urged all the business to try and deliver services digitally, as much as is feasible.




"First key to success is how to leverage our digital platforms, how can we become a part of digital e-commerce; there is lot of receptivity for digital delivery services. I would urge all the business to an extent feasible try and deliver services digitally," he said.

 

Jain also argued that the government is currently negotiating free trade agreements (FTAs) with other nations, which could prove crucial for boosting services exports. He said, "We are now negotiating FTAs with many countries, UK Australia, Canada, European, Union as they are big services market. We need a close interaction with them to get the best of out of these FTAs."


He also spoke about having a dynamic B2B portal, which can be used by service providers to reach out to the markets abroad.  He believes we should have a platform for engagement so that people outside knows who are the service providers in India so that we can get more and more business.

This equity fund firm sheds shares of Rakesh Jhunjhunwala-backed Nazara Tech

 Almost a dozen companies’ shares witnessed a change of hands through bulk deals on Wednesday, which was also the last trading day of Samvat 2077. In this, Rakesh Jhunjhunwala-backed Nazara Tech 1,61,487 shares were sold by WHV-EAM International Small Cap Equity Fund at Rs 2301.51 apiece.

The equity fund firm has otherwise picked up 15,48,685 equity shares in Minda Corp at Rs 174.6 per share on the NSE, the bulk deals data showed.

While Punjab National Bank has sold 92,31,153 equity shares in Ballarpur Industries at Rs 1.07 per share on the NSE, according to bulk deals data.

ASL Enterprises for the fourth straight session have been offloading ASL Industries shares on the exchanges. It sold 2,84,000 equity shares in ASL Industries at 23.58 per share.

While Sunayana Investment Company Limited for the third straight session picked up 1,00,000 shares in the company at Rs 23.4 a share and Zuber Trading LLP for the second straight session bought 1,76,000 shares in the company at Rs 23.66 a share on the NSE, as per bulk deals data.

Individual investors Manisha Lodha and Shruti Lodha bought 85,000 equity shares each in Salzer Electronics Ltd at Rs 173.62 apiece and 172.58 apiece respectively, while Shah Dipak Kanayalal sold 1,00,000 equity shares in the company at Rs 171.47 a share on the NSE, as per bulk deals data.


On an individual basis, Satish Ramsevak Pandey sold 78,000 equity shares in Debock Sale Marketing at Rs 75.33 per share; Shah Chetan Rasiklal sold 1,75,000 shares in Lyka Labs Ltd at Rs 107.09 per share; Ansari Namra Firdaus Aamir Anjum sold 1,26,203 shares in Ortin Laboratories Ltd at Rs 29.27 per share on the NSE, the bulk deals data showed.


A deal where the total quantity of shares bought or sold is greater than 0.5 per cent of the share capital of the company is termed a bulk deal. It can be transacted either through the normal trading window or through the block trading window.

Rakesh Jhunjhunwala's advice to beginners on how to start investment journey in stock market

 This Diwali, our celebrity guest Shraddha Kapoor chats with ace investor Rakesh Jhunjhunwala. A candid session where they discuss the aspects of life, career, and each other's success mantras.





The Big Bull of the market says to Bollywood diva Shraddha Kapoor that happiness, contentment, and satisfaction is all that he needs from this New Year. He talks about his kids and says that he respects human choice and therefore lets his children do and be whatever they want. He believes if you earn your own money, you don't have to be dependent on anybody.


Kapoor in a candid session with the ace investor asked him that what is his advice to beginners on how to start their investment journey in the stock market. Jhunjhunwala said that investing in stocks is a professional job. He further explained that stock investments need continuous monitoring as any other investments that you may make.


He said one should plan their stock market investments in the same way they plan other investments such as investing in a house, other regular-income investments.  

India’s top Philanthropists: 11 Industrialists donate over 100 crore in FY21; Azim Premji retains top spot

 






India saw 11 individuals making an annual donation of over Rs 100 crore in the financial year 2020-21. Wipro’s Azim Premji retained the top spot among philanthropist billionaires of India for a second time. Premji hiked his donations 23 per cent on-year last fiscal, according to the recent EdelGive Hurun India Philanthropy List 2021. Hurun India and EdelGive released the eighth edition of the list, ranking the most generous people in India based on the value of their donations between 1 April 2020 and 31 March 2021. Among the philanthropists, education was the most favored cause receiving a total of Rs 9,659 crore from 72 donors. While the ace investor Rakesh Jhunjhunwala topped the list of new entrants, donating a fourth of his annual income or Rs 50 crore towards charitable work in FY21.


Azim Premji: The founder chairman of Wipro, Azim Premji & family, donated Rs 9,713 crore or Rs 27 crore a day in FY21, topping the EdelGive Hurun India Philanthropy List 2021. The Azim Premji Foundation nearly doubled its allocation towards the pandemic from Rs 1,125 crore to Rs 2,125 crore this year in June, to expand work on vaccination across ten states, with a commitment to increase this further if the need demands.


Shiv Nadar: HCL Technologies founder-chairman Shiv Nadar & family retained the second spot on the EdelGive Hurun India Philanthropy List 2021, donating Rs 1,263 crore. As of 2021, Nadar has invested almost a billion dollars through the foundation to impact over 30,000 students directly. In 2021 alone, the Shiv Nadar foundation donated Rs 70 core towards COVID pandemic relief.


Mukesh Ambani: Reliance Industries Ltd’s Mukesh Ambani & family donated Rs 557 crore in the last fiscal, and occupied the third spot in EdelGive Hurun India Philanthropy List 2021. RIL produced over 1000 MT of medical-grade liquid oxygen per day or 11% of India’s total production and supplied over 55,000 MT of medical-grade liquid oxygen across the country free of cost.


Kumar Mangalam Birla: Kumar Mangalam Birla and family donated Rs 377 crore and stood at fourth spot on the Philanthropy List. The Aditya Birla Group donated Rs 400 crore to the PM CARES Fund and Rs 50 crore to FICCI-Aditya Birla CSR Centre for Excellence. Birla has also allocated Rs 50 crore for supplying N95 Masks, PPE’s and ventilators in India.


Nandan Nilekani: Infosys’ Nandan Nilekani donated Rs 183 crore, and was ranked 5th on the list. Nandan Nilekani donated Rs 138 crore for Societal Thinking in FY2021. Moreover, Nandan Nilekani and Rohini Nilekani signed the Giving Pledge in 2017 and committed to donating half of their wealth towards philanthropy.


Hinduja family: The Hinduja family donated Rs 166 crore in FY 21 and stood at sixth position on the EdelGive Hurun India Philanthropy List. The Hinduja Foundation, established in 1968, focuses on Water Stewardship, Healthcare, Education, Rural Development, and Arts & Culture.


Bajaj family: The Bajaj family stood at seventh rank as the group donated Rs 136 crore in FY21. The Bajaj family has always been known for their philanthropy deeds. This year in May, they pledged to donate Rs 200 crore to build capability and resources to tackle the pandemic. This amount was in addition to Rs 100 crore donated by the Bajaj Group in FY 21.


Gautam Adani: Gautam Adani and family donated Rs 130 crore in FY21, and was ranked eighth on the EdelGive Hurun India Philanthropy List 2021. Adani Foundation works in education, community health, sustainable livelihood, and community infrastructure development in alignment with the Sustainable Development Goals. The Foundation donated Rs 122 crore to support COVID-19 related relief efforts across the country.


Anil Agarwal: Anil Agarwal and family made a donation of Rs 130 crore in the previous fiscal, and shared the 8th rank with Gautam Adani on the EdelGive Hurun India Philanthropy List 2021. In July this year, the Anil Agarwal Foundation announced the Rs 5,000 crore ‘Swasth Gaon Abhiyaan’ to provide end-to-end healthcare solutions across the rural landscape covering 1,000 villages across 24 districts and 12 states in the country.


Burman family: The Burman family made a Rs 114 crore donation, and made it to the 10th spot on the EdelGive Hurun India Philanthropy List 2021. The Dabur Group established the ‘Dabur Care Fund for COVID-19’, to protect lives and livelihood, and support those affected by the COVID-19 pandemic.

Sitting on cash, exiting market early biggest mistakes; positive on realty, spirit stocks: Shankar Sharma

 Mini

Shankar Sharma of First Global, is of the clear view that it is not the time to be sitting on cash. In fact it could turn out to be a big mistake. The other grave mistake could be exiting the market too soon. Sharma also said that he is bullish on real estate, spirit and innerwear stocks, sectors which haven't done as well in the past 15 months, vis-a-vis sectors like FMCG, pharma.

Shankar Sharma of First Global, is of the clear view that it is not the time to be sitting on cash. In fact it could turn out to be a big mistake.

“There is a huge risk in the markets and I will tell you what that is. It is that you can exit too soon. That is to my mind the biggest risk that we as investors must confront. There are times during which the risk in the markets might fall and therefore you will be left holding stocks that are going to fall and then there are markets in which the risk is exactly the opposite, that you might have sold too soon and therefore, you are sitting on cash and you don't have enough stocks. We are in that category of risk right now that we can all become excessively conservative and therefore take significant money off the table and that would probably be the worst thing you can do at this stage of the market. That is the risk of the market that you exit too soon,” Sharma said, in an interview with CNBC-TV18.

Sharma further explained, “We are in the phase of the market, which if we go back to 2004-2005-2006, pretty much everything rallied, meaning, even commodities had a very big boom and so did the entire equity pack, although emerging markets did better than developed and since interest rates were trending down, bonds also did well. So, it was one of those market situations in which every asset class did well including real estate, gold. We are in a somewhat similar situation in which if you are buying a home, you are going to make money or if you are buying crypto, you are making money and if you are buying stocks, you're making money. So, you are just spoilt for choice and therefore the wise thing here right now is not to sit on cash.”

“The wise thing here is to have adequate exposure to the various segments of the investable universe, which means equities, real estate, crypto, all of them are in a phase where it is hard to lose 30-40 percent on an aggregate portfolio, and I don't see that happening. Therefore, the next trigger for the market is simply that we will wait for whatever the FOMC comes out with or whatever commodities do, but remember, all that is noise. The trend is just so solidly up, you might have a one-day correction or a one-week correction, maybe a one-month correction but I don't think these are durable corrections to really take cash off the table,” said Sharma.

According to him, markets fall only if there is an unknown risk coming forward, just like coronavirus, back in March 2020. It came without a warning and no one could have guessed it when the year commenced.

“Markets do not fall because of known risks, markets fall because of unknown risks. I don't think there is much out there as of right now that tells me there is a massive risk that we are all ignoring,’ said Sharma.

Talking about some of his investments like CG Power, Sharma said that it has been one of the best stocks he has bought in his life. It has made more money in a fairly short period of time. “Last year when I bought it, it was in mid-teens, or something like that and at every level, I did consider selling but at every level, it has doubled, so right from Rs 15 it is almost a 10 bagger in less than a year's time.”

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: Bull market grows on a wall of worry; positive on PSU banks: Rakesh Jhunjhunwala

“I like to take big risks of this kind, wherein things are adding a lot of trouble. In this case, there was a takeover by a much-respected group but you will find different kinds of events happening that make cheap stock become expensive like CG Power and there are a few others that I have bought and all of them share similar characteristics,” he said, adding that one has to take that risks in a calibrated manner.

With regard to his investment in Radico Khaitan, he said, “It has been a more recent bet and some of the other themes have been real estate, spirit stocks and innerwear stocks- so all those stocks which were really in some senses unloved in the last 15-months’ time are where the big money has been made instead of pharma, FMCG, which generally afford you a fair amount of alpha without too much of stress; those stocks haven't done well. So you just need to keep seeing what is coming up in the horizon. All these stocks did very well and we own them.”


On Tata Motors, he said, “One has to respect the Tatas and their capabilities. They are one of the core research-driven groups in India apart from Bajaj. They are in the right space on the EV side. However, I would not like to comment on the stock because one does not know how EV will play out but if any company in India can succeed in EV then Tata is the one to bet on.”

Coast Guard's offshore patrol vessel Sarthak commissioned in Goa

 Synopsis

Sarthak is commanded by Deputy Inspector General M M Syed and has a complement of 11 Officers and 110 men, it said.


Sarthak is fourth in a series of five OPVs being built by the Goa Shipyard Limited for the Indian Coast Guard (ICG).

The Indian Coast Guard's new offshore patrol vessel (OPV) Sarthak was commissioned into service in Goa by its Director General K Natarajan on Thursday.


Sarthak is fourth in a series of five OPVs being built by the Goa Shipyard Limited for the Indian Coast Guard (ICG), according to an official statement.


"These OPVs are multi-mission platforms capable of undertaking concurrent operations," it mentioned.


Sarthak will be based at Porbandar in Gujarat, and operate on India's western seaboard under the operational and administrative control of the Commander, Coast Guard Region (Northwest), the statement noted.


The 105-metre-long ship -- which displaces 2,450 tonnes of water -- is propelled by two 9,100 kilowatt diesel engines designed to attain a maximum speed of 26 knots, it mentioned.


"The ship is fitted with state-of-the-art equipment, machinery, sensors and weapons which enables it to function as a command platform and undertake mandated ICG charter of duties including search and rescue, combating maritime crimes and preserving and protecting the marine environment," it noted.


Sarthak is commanded by Deputy Inspector General M M Syed and has a complement of 11 Officers and 110 men, it said.

All-weather solar tents to be deployed at over 17,000 ft on India-China border

 Synopsis

Indo-Tibetan Border Police has been using solar technology at some of the bases. Solar-powered tents will further help them sustain in sub-zero temperatures.


Representative Image

With border tension between India and China intensifying, the Union government has approved all-weather, high-altitude solar power tents that can be deployed at an altitude of above 17,000 ft and can function between minus 35 degree to 40 degree plus temperature, ET has learnt.


The guidelines approved with suggestions from the Indo-Tibetan Border Police (ITBP) have been under consideration for the past four years. However, they were expedited after the India-China standoff in Eastern Ladakh last year, officials added.


According to officials familiar with the development, ITBP has been using solar technology at some of the bases but solar-powered tents will help them sustain sub-zero temperatures at very high altitudes. There are nearly 180 border posts along the India-China border, from Karakoram Pass in Ladakh to Jachep La in Arunachal Pradesh. An additional 47 border outposts and 12 staging camps are under construction to provide ration, logistics and a place to stay for ITBP personnel during the long-range patrols along the Himalayan frontier.


"The setting up of more posts is aimed at ensuring that they are not abandoned during extreme snow and cold. Initially, we plan to provide around 50 such all-weather tents. Using technology, the temperature inside these tents will be maintained at 21 degrees Celsius. It shall be able to withstand wind speed of more than 150 km," said a senior official.


The high altitude solar tents, approved by experts, require that their colours should be such that it can camouflage with the surroundings and the material used in the construction of these tents are fireproof.

American Chinooks, howitzers and cruise missiles to back India against China in eastern Tibet

 Synopsis

Indian military personnel escorted a group of reporters through the region last week to highlight the country’s new offensive capabilities. Eastern Army Commander Lieutenant General Manoj Pande said that boots, armor, artillery and air support were being combined to make the force “agile, lean and mean so that we can employ faster.”



An Indian Air Force Chinook helicopter

India has deployed recently acquired U.S.-made weaponry along its border with China, part of a new offensive force to bolster its capabilities as the countries remain deadlocked over disputed territory in the Himalayas.


The buildup in India’s northeast is centered on the Tawang Plateau adjoining Bhutan and Tibet, a piece of land claimed by China but controlled by India. It holds historical political and military significance: In 1959, the Dalai Lama fled to India across nearby mountain passes to escape a Chinese military operation. Three years later, both sides fought a war in the area.

Now U.S.-manufactured Chinook helicopters, ultra-light towed howitzers and rifles as well as domstically-made supersonic cruise missiles and a new-age surveillance system will back Indian troops in areas bordering eastern Tibet. The weapons have all been acquired in the past few years as defense ties between the U.S. and India have strengthened due to rising concerns about Chinese assertiveness.


Indian military personnel escorted a group of reporters through the region last week to highlight the country’s new offensive capabilities. Eastern Army Commander Lieutenant General Manoj Pande said that boots, armor, artillery and air support were being combined to make the force “agile, lean and mean so that we can employ faster.”


“The Mountain Strike Corps is fully operationalized,” he said. “All units including combat and combat support units are fully raised and equipped.”


India has moved to bolster its defenses along the border with China after the worst fighting in decades last year led to the deaths of at least 20 Indian army personnel and four Chinese soldiers. While the two sides have engaged in talks to disengage, they have yet to agree on pulling back from a key flashpoint in another border area near the disputed area of Kashmir.


India’s deployments show a frustration with the lack of progress on talks with China, said Rajeswari Pillai Rajagopalan, director of the Centre for Security, Strategy and Technology at the Observer Research Foundation in New Delhi. “That we are looking at a second winter engaged at the border explains why India needs to work on building its capabilities and infrastructure at the border and source more equipment from partners like the U.S.,” she said.


Adding to the friction is a new Chinese boundary law that Beijing said was a “unified standard for strengthening border management.” India warned that the new law, passed last week, could affect ongoing border tensions, which China’s Foreign Ministry spokesman Wang Wenbin said was “undue speculation.”


The bulk of India’s fresh forces have gone to the east, where a formation of least 30,000 troops have been deployed over the past year. Prime Minister Narendra Modi’s government has been concerned about a repeat of a bitter 1962 battle in the Himalayas, when the People’s Liberation Army took Tawang as the under-prepared and poorly led Indian Army withdrew. Unused bunkers and war memorials still dot the lone road that connects Tawang to the plains below.


India now wants to use the area to “punch” China if necessary, according to a senior military commander familiar with the situation. The area is crucial to India’s defenses, as the borders stretching east to Myanmar are “poorly held” and the narrow corridor passing by Bhutan, Nepal and Bangladesh -- which holds gas pipelines and railroads connecting central India to the northeast -- is of “critical concern,” the commander said.


The Indian army’s offensive option along the Tawang Plateau, which is in the middle of those areas, would allow India to counter China as it steps up military activity in the area. General Pande said there was a “marginal increase in Chinese patrols in the eastern sector along the Line of Actual Control,” a disputed but de facto boundary between the two countries that runs along the Himalayas.


The LAC is patrolled by India and China, although General Pande said the scale and duration of PLA troop exercises on their side have increased since the stand-off in the eastern area of Ladakh last year. India has “adequate number of troops available,” the general said, without giving numbers.


A newly raised Indian Army aviation brigade, based about 300 kilometers (186 miles) south of Tawang, forms a critical component of the new offensive plan. This was the same base that U.S. aviators took off from to fight the Japanese Imperial Army in China and assist the nationalist forces there in World War II.


The Indian aviation brigade is now equipped with Chinook helicopters, which can ferry U.S.-made light howitzers and troops quickly across mountains. It also has Israeli-made unmanned aerial vehicles that relay real-time pictures of the adversary round the clock.


“The Chinook are a game changer,” said Major Kartik, a pilot in the newly-formed brigade. “They offer mobility and maneuverability like never before -- troops and artillery guns can be carried from one mountain ridge to other quickly.”


The preparations go beyond just boots and new equipment. Engineers in India are digging the world’s longest two-lane tunnel, which is 13,000 feet (4,000 meters) above sea level and runs underneath a critical mountain pass currently accessible by a 317-kilometer meandering road to the disputed border.


Construction is ahead of schedule and the structure will be operational by next June, said Colonel Prakshit Mehra, a project director of the tunnel. “Currently snow clearance of the pass requires massive effort, and even then only certain kind of vehicles can cross,” he said. “The tunnel will reduce travel time by hours, allowing faster and unhindered movement of troops round the year.”


The tunnel, once operationalized, ensures that India can move its troops without detection from China, according to a senior military commander who asked not to be identified.


A new road has been constructed close to the disputed border to move troops and supplies. A second one running along the eastern borders of Bhutan connecting the disputed border to the plains below is nearly complete, throwing up more possibilities for military commanders.


“We are more comfortable than what we were a few years ago,” said Major General Zubin A. Minwalla, commander of the 5-Mountain Division of the Indian Army.

Induction of women cadets in NDA first step towards gender equality in armed forces: Army chief

 Synopsis

​​Women's induction will be the "first step towards gender equality" in the armed forces, and "at least forty years down the line" women would be in the same position he is, the army chief said. ​​He was addressing the cadets after reviewing the passing-out-parade of the 141st course of the NDA.



Last month, the Supreme Court allowed women candidates to take the NDA entrance exam in November this year.

Chief of Army Staff General M M Naravane on Friday said as the National Defence Academy (NDA) opens its doors to women cadets, it is expected that they will be welcomed with the same sense of fair play and professionalism for which the Indian armed forces are known world-over.


Women's induction will be the "first step towards gender equality" in the armed forces, and "at least forty years down the line" women would be in the same position he is, the army chief said.


He was addressing the cadets after reviewing the passing-out-parade of the 141st course of the NDA.


"As we open the portals of the NDA for women cadets, we expect you to welcome them with the same sense of fair play and professionalism as Indian armed forces are known world over," Gen Naravane said.


Last month, the Supreme Court allowed women candidates to take the NDA entrance exam in November this year. Interacting with media persons after the parade, Gen Naravane said that as women are being inducted into NDA, he is sure that they will perform better than their male counterparts.


"This is just the first step towards gender equality as the army has always been at the forefront of all initiatives that have been taken in the country. As a result of this, they will also get empowered. They will hold more challenging assignments," he added.


"It's not that we don't have women officers. We already have women officers undergoing training at OTA (Officers Training Academy) at Chennai. They are exceedingly doing well. I am sure that the Academy will continue to prosper and flourish and bring fame and glory," Gen Naravane said.


Asked about how he sees the role of women in the armed forces in the next 20 to 30 years, he said, "At least 40 years down the line, they will be standing where I am standing."


To a question on whether there will be any infrastructural changes in view of women joining the NDA, he said that infrastructure will be slightly changed as per the requirements, but the training would remain the same.


"As far as training is concerned that will not be any different. The training will be held jointly and there will be no difference in the training standards. The same regime of the officers training at OTA will be followed," he said.


During his speech, the army chief also appealed the cadets to keep themselves abreast of new technology to counter the contemporary challenges. He said he was greatly honoured to review the passing-out-parade.


"A little over 42 years back, when I stood as a cadet at the same drill square as you stand today, little I could have imagined that I would be reviewing this parade," he said.


"From here on, you will step into the respective career service academies for more focused military training. You will don different uniforms, but always remember that no single service by itself can fight and win modern wars," he added.


Gen Naravane also thanked the parents for believing in the armed forces as a worthy career for their children.


"You have raised them with love and affection, now we have taken on that role. They were your children till yesterday, they are ours now on. We should nurture them, cherish them and even admonish them but we shall always be with them in sun and snow, in bad times and good and in war and in peace," he said.


The army chief also said that cadets often think the days of serious studies "are behind now".


"However, new developments and niche technologies are transforming the very character of war faster than ever before. Therefore it is very important that you keep yourselves abreast with these changes through regular professional courses," he said.


"The physical stamina needs to be matched with technical prowess and constant thirst for knowledge," Gen Naravane added.


While speaking to reporters, he also said as far as the induction of new technology in the armed forces is concerned, India is in no way behind any developed country.


"We have the best of the equipment that is available and it will be very heartening to know most of the state-of-the-art technology and systems, especially IT-related and surveillance related equipment have been brought from the Indian companies, from small start-ups, from MSMEs," he said.


Over 1,000 cadets participated in the parade of which 305 cadets were from the passing out course. This included 220 Army cadets, 41 Naval cadets, and 44 Air Force cadets including 19 cadets from friendly foreign countries.

Washington committed to helping Taiwan defend itself: US official

 Synopsis

"The United States has a commitment to help Taiwan provide for its self-defence," said Oudkirk, who heads the American Institute in Taiwan, the de facto U.S. embassy in the absence of formal diplomatic ties. Her remarks come as tension between Taiwan and China, which has not ruled out taking the democratically ruled island by force, has escalated in recent weeks.


Speaking to reporters at her first news conference since assuming her post in July, she described U.S. relations with Taiwan as "rock-solid".

The top U.S. representative in Taiwan, Sandra Oudkirk, said on Friday that the United States is committed to helping Taiwan defend itself amid heightened tensions between Taipei and Beijing.


Speaking to reporters at her first news conference since assuming her post in July, she described U.S. relations with Taiwan as "rock-solid".


"The United States has a commitment to help Taiwan provide for its self-defence," said Oudkirk, who heads the American Institute in Taiwan, the de facto U.S. embassy in the absence of formal diplomatic ties.


Her remarks come as tension between Taiwan and China, which has not ruled out taking the democratically ruled island by force, has escalated in recent weeks.


In a statement to Reuters, the Chinese foreign ministry said it is opposed to Oudkirk's comments and urges the United States to be aware of the sensitive nature of the Taiwan issue.


"Don't play with fire, or it will severely impact China-U.S. relations and the peace and stability of the Taiwan Strait," the statement said.


While the United States, like most countries, has no formal ties with the Chinese-claimed island, it is its most important international backer and main arms supplier. President Joe Biden's administration has moved to restate that support, to the anger of Beijing.


Washington is required by law to provide Taiwan with the means to defend itself but it has long followed a policy of "strategic ambiguity" on whether it would intervene militarily to protect Taiwan in the event of a Chinese attack.


When asked if the United States would come to Taiwan's defence if China attacked, Oudkirk said the policy towards Taiwan has been clear and remains unchanged, citing several U.S. laws governing its relations with Taiwan.


A recent increase in Chinese military exercises in Taiwan's air defence identification zone are part of what Taipei views as stepped up military harassment by Beijing.


Taiwan Defence Minister Chiu Kuo-cheng said earlier this month that military tensions with China are at their worst in more than 40 years.


In an interview with CNN that aired Thursday, Taiwan President Tsai Ing-wen confirmed that a small number of U.S. forces are in Taiwan to train Taiwanese soldiers.


When asked for more details on the presence of U.S. forces on the island, Oudkirk declined to comment on specific operations or training.


"We engage with our partners in Taiwan on a routine basis to assess vulnerabilities, to assess ways we can support Taiwan in mounting its own self-defence," she said.


The U.S. Secretary of State Antony Blinken on Tuesday urged all United Nations member states to support Taiwan's "robust" participation in the U.N. system.

Indian Navy's 7th P1135.6 class frigate launched at Kaliningrad in Russia

 Synopsis

The Indian and Russian governments had in October 2016 signed an agreement to construct four additional P1135.6 class ships -- two each in Russia and India.

The seventh frigate of P1135.6 class for the Indian Navy was launched at Yantar shipyard in Kaliningrad on Thursday in the presence of Indian Ambassador to Russia D Bala Venkatesh Varma, the Defence Ministry said During the launching ceremony, the ship was formally named as "Tushil", which means protector shield in Sanskrit, the ministry's statement noted.


The Indian and Russian governments had in October 2016 signed an agreement to construct four additional P1135.6 class ships -- two each in Russia and India.


These ships feature "stealth technology" in terms of low radar and under water noise signatures, the ministry stated.


"These ships are being equipped with major Indian supplied equipment such as surface to surface missiles, sonar system, surface surveillance radar, communication suite and anti-submarine warfare system along with Russian surface to air missiles and gun mounts," the ministry mentioned.


Senior officials of the Russian government and the Indian Navy were present at Thursday's launching event, it said.

Need rules-based order for Indo-Pacific that respects sovereignty, territorial integrity: EAM S Jaishankar

 Synopsis

Addressing the 4th Indo-Pacific Business Forum on Thursday, Jaishankar said the Indo-Pacific reflects the reality of globalisation, the emergence of multipolarity and the benefits of rebalancing. "It underlines both our interdependence and interpenetration. As we speak of common good and common efforts, it is natural that this is addressed amongst other means, through a business forum," he said.



External Affairs Minister S Jaishankar. (AFP, file photo)


India believes that for common prosperity and security in the Indo-Pacific region there is a need to evolve through dialogue a common rules-based order that respects sovereignty, territorial integrity and equality of all nations, External Affairs Minister S Jaishankar has said.


His remarks come amid growing global concern over China's military muscle-flexing in the region.


Addressing the 4th Indo-Pacific Business Forum on Thursday, Jaishankar said the Indo-Pacific reflects the reality of globalisation, the emergence of multipolarity and the benefits of rebalancing.


"It underlines both our interdependence and interpenetration. As we speak of common good and common efforts, it is natural that this is addressed amongst other means, through a business forum," he said.


India sees the Indo-Pacific as a free, open and inclusive region which embraces all in a common pursuit of progress and prosperity, Jaishankar said.


It includes all nations in this geography and also draws others beyond who have a stake in it, he said.


"India believes that our common prosperity and security requires us to evolve through dialogue a common rules-based order for the region. Such an order must respect the sovereignty and territorial integrity, international law as well as equality of all nations," Jaishankar said.


"It envisages that countries should have access to the use of common spaces on sea and in the air that would require freedom of navigation and overflights, unimpeded commerce and peaceful settlement of disputes in accordance with international law," he said.


His remarks assume significance as a number of countries have territorial disputes with China in the South China Sea region.


Jaishankar asserted that India stands for a fair, open, balanced, rules-based and stable international trade regime in the region.


India's approach is based on cooperation and collaboration given the need for shared responses to shared challenges in the region, he said.

How to become a crorepati

 How to become a crorepati


Here's how Anshuman grew his money to over Rs1 crore and how he lost a chance of adding another crore to his corpus






In 2004, when Value Research reader Anshuman Garg started his journey into the exciting world of mutual funds, he started with a lone zero. After a 14-year relationship, 43-year-old Anshuman today is a crorepati thanks to his regular and disciplined mutual fund investments. Just few more years and this Delhi resident is confident of an early retirement. Let us read his riveting tale of wealth creation and try to decipher his secret sauce.


Anshuman started saving from his very first job as an accounts executive in 1995, immediately after completing graduation. Those were the days when mutual funds were at a nascent stage. So, like everybody else, Anshuman looked at other options. He started a recurring deposit of Rs 100, which fetched him modest returns. Then in around 1997, he invested Rs 5,000 in IDBI deep-discount bonds, which got him around 10 to 12 per cent.


It was not until 2004 that Anshuman had his tryst with mutual funds. His interest in mutual funds brought him to the mutual fund industry. He became an advisor in a distribution house. "My first mutual fund investment, of Rs 10,000, was in the NFO of Principal Dividend Yield Fund in September 2004. It was good but Dhirendra Kumar of Value Research told readers why we should avoid NFOs. In those times, SIPs did not have the ECS facility. So, one had to give cheques. I was investing in all sorts of NFOs in 2005. Then I decided to take up Dhirendra-ji's advice of purchasing units only in existing funds," says Anshuman.


His perspective totally changed after he started regularly reading the Value Research website and the magazines. Firstly, he started investing through SIPs. Two, at a time, he invests only in two-three funds. Three, Anshuman realised that investing slowly but regularly is more important. "It does not matter how much you save, what matters most is for how long you will save. Most people think they need lots of money to start with, what they actually need is lots and lots of time," he says.


In June 2017, Anshuman's personal portfolio crossed the magical figure of Rs1 crore. He has invested about Rs50 lakh over the last 13-14 years. His portfolio went through a shake-up in 2015, when he redeemed his non-direct investments. That is the time when he went direct.


"My father used to write down household expenses daily in the evening. This helped him to keep a check on the monthly budget. Since my marriage, I have also been following the same practice," says Anshuman. This practice controlled expenses and let him invest more.


Today his biggest allocations in terms of value are in BNP Paribas Multicap, Franklin Smaller Companies and Sundaram SMILE funds (now Sundaram Small Cap Fund). His other funds are ICICI Prudential Value Discovery, HDFC Equity (now HDFC Flexi Cap Fund) and HSBC Small Cap. He also has some exposure to a balanced (aggressive hybrid) fund from DSP, where he invested last year. For his daughter, who is in third standard, Anshuman has a monthly SIP in Reliance Small Cap Fund (now Nippon India Small Cap Fund). His daughter's education is a top priority for him.


Talking about how he uses fund ratings, Anshuman tells us that he typically invests in a top-rated fund (four or five stars) that has seen slow returns. "The fund has to be top rated but it should not be in top two quartiles in terms of performance. Sometimes such a fund may get a rating downgrade also. My experience shows that investments in such funds do well as they rebound very strongly," reveals Anshuman.


Currently, Anshuman's portfolio has an overall annualised return of around 11 per cent due to a sharp correction in small and mid caps in the last few months (2018). "On January 31 this year (2018), my portfolio worth was Rs 1.28 crore. But then the carnage in mid and small caps happened. There is a loss of Rs 20 lakh in the last five months. But I am not worried because I am an SIP investor. I have seen the 2008 fall. If markets fall more, I will take more exposure. I don't buy aggressively but add tactical positions when required," he says.


Anshuman is waiting for markets to correct. "If it does, it will be good for long-term investors. I had exited direct equities in 2006. Then 2008 happened. I was not afraid. I did SIPs in JM Emerging Fund (now JM Flexicap Fund). It was very volatile in 2008. I invested Rs 10,000 per month, aggregating to Rs 1.2 lakh. My investment doubled in two years," says a proud Anshuman.


Gold as an asset class has been of no use to him so far. "I had taken exposure to gold funds about three-four years back. It was through Reliance Gold Savings Fund (now Nippon India Gold Savings Fund) and I had invested Rs1 lakh through SIPs. Later I redeemed the money and put it into Sundaram SMILE Fund (now Sundaram Small Cap Fund)," he added.


Anshuman is planning to retire early. That's one of his biggest financial goals. "I will retire early. Let's say when I am about 48 years, so four years more. This could have happened much earlier if I had not made that Rs 40 lakh sub-optimal investment in a flat in 2011. That investment will mature by the end of this year. I plan to deploy the proceeds in balanced (aggressive hybrid) schemes which can give me regular income over a period of time," the die-hard mutual fund investor says. According to Anshuman, instead of real estate, if he had invested the Rs 40 lakh funds in mutual funds (the current value of the flat is Rs 60 lakh), he would have seen his investment more than double to Rs 1 crore. "I missed a chance to earn an extra Rs 1 crore," he rues.