Apr 18, 2017 - Rupee hits seasonality wall after best first quarter since 1975

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Sree Vijaykumar From the Editor's Desk If you were to look for one ingredient that binds together the America's chief executives, top managers and boards of directors, you'd find a remarkably consistent commonality, now and in generations past: A disproportionate number of them are graduates of Harvard Business School. An M.B.A. from H.B.S., as those in the know refer to it, has long been the ultimate Good Housekeeping stamp of approval on any resume. Jamie Dimon of JPMorgan Chase, Jeffrey Immelt of General Electric, Sheryl Sandberg of Facebook - and the list goes on and on. The number of Fortune 500 chief executives who earned their business degrees at Harvard is three times the total from the next most popular business school, the Wharton School at the University of Pennsylvania. It is hard to overstate the school's influence on corporate America. That's why a new, exhaustive history of the school is causing a stir before it is even out. The book, "The Golden Passport," by the veteran business journalist Duff McDonald, is a richly reported indictment of the school as a leading reason that corporate America is disdained by much of the country. More here. Advertisers of the day LODHA New Cuffe Parade: Launching LODHA Altia: A 44-storey new tower with lavish 1, 2 & 3 bed residences starting Rs 1.53 Cr Hyatt Hotels: World of Hyatt.  Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). Rupee hits seasonality wall after best first quarter since 1975 The rupee has declined in each of the last seven April-June quarters, with its performance often marred by a periodic increase in India’s gold demand Advt: Lending solutions for all your long-term business needs No company starts big. They grow over time. Standard Chartered will be your companion in this growth journey, giving you solutions that fit your needs at every stage (Know More) Advt: Work for the best employer - Yourself Advantages - Best B2B audience in India, no hard-selling or up-front costs involved, access to our content repository and air-tight agreements with instant gratification. How Infosys’s $20 billion revenue target by 2020-21 is hurting the firm Vishal Sikka’s ambitious revenue target, which Infosys is struggling to keep pace with, seems to have done more harm than good Hopscotch in talks to raise $20 million The $20 million fundraising will provide Hopscotch, an online store for babycare products, ample firepower to hold fort against larger rival Firstcry After SBI merger, now Punjab National Bank and Bank of Baroda may take over smaller lenders State Bank of India absorbed five associate lenders and Bharatiya Mahila Bank earlier this month, boosting India's No. 1 banks financial muscle. Whodat Tech raises $600,000 from Ideaspring Capital Whodat Tech will use the funds for research and development, and team expansion After selling its Indian assets to Flipkart for a stake in it, what does eBay leave behind? eBay has a significant stake in Snapdeal. And theres Quikr. A company that became a unicorn in the heady days of 2015, with an unusual genesis in Mumbai and that unusual name when it was born - Kijiji. Warburg Pincus planning to sell 10% stake in Capital First The US-based PE will make one of its best exits in India, recovering nearly the entire capital invested in the company through this single transaction. Bhim: India's ticket to a cashless economy Converting the promise of the online payments app into digital dividends for India will require a concerted effort Standard Chartered PE sells 1.41% stake in Fortis for Rs139 crore Standard Chartered Private Equity (Mauritius) III sold a total of 73,04,455 shares, amounting to 1.41% stake, of Fortis Healthcare How state-owned banks becoming darling for investors Customers are fighting against the rising fees on banking services, hidden charges, higher interest rates, and mis-selling of other banking products, and such. Daiichi Sankyo opposes Singh brothers’ bid to sell Religare Health Insurance Daiichi Sankyo tells Delhi HC that Religare Health Insurance sale by the Singh brothers violates an earlier court order on selling of unencumbered assets Housing.com re-enters rent business Realty portal Housing.com, which recently merged with PropTiger, aims to list 2 lakh homes in the next three months AI start-up Innefu Labs raises $2 million from IndiaNivesh AI start-up Innefu Labs will invest the funds raised from IndiaNivesh in product and technology development, team expansion and overseas launches TCS shareholders approve Rs16,000 crore share buyback The TCS share buyback programme, passed through a special resolution, saw 99.81% of valid votes cast in favour of the proposal Too many life insurance policies are being dropped prematurely Five years after life insurance policies are sold, two-thirds of them are lapsed by the buyers. Everybody loses because of this—the industry as well as the customers PSU stake sale: Government scouts for merchant bankers The government is looking to sell stake in bluechip companies like Indian Oil Corporation Steel Authority of India Ltd and NTPC SBI says low credit growth, high GDP suggest decoupling State Bank of India said steep decline in credit growth, which hit a multi-decadal low in 2016-17 despite the economy clipping at around 7 per cent, suggests decoupling of credit growth and GDP. Inditrade Capital begins microfinance business Solapur is known for handloom and powerloom weaving industry providing employment to a large number of workers.There are around 6000 powerloom industries operational in the district. Radhakishan Damani: His journey from Dalal Street punter, to long-term investor, to entrepreneur Few imagined that Damani would emerge as one of India's most successful stock investors, seed-fund a retail chain and take it public too. Amazon closing in on Flipkart as top India e-commerce site among mobile users, study says Amazon is making a $5 billion play to became the top e-commerce site in India, and it seems the investment is paying off. According to new data from data i Salon chain Be U Salons raises Rs 4 cr in seed funding The chain which currently has 20 outlets operating across Delhi-NCR aims to open over 100 outlets in financial year 2017 across multiple cities in Ind.. Paytm ties up with distributor of luxury labels in India, Genesis Luxury Paytm has announced a partnership with Genesis Luxury, the company that markets and distributes the world’s best international luxury and premium labels in India.The partnership will enable cust Berleigh launches flagship store in Mumbai This is the latest venture from Heel & Buckle Luxury Pvt. Ltd, part of the family-owned DAR Group. Nykaa opens brick-and-mortar store in Mumbai India’s multi-brand e-commerce beauty platform, Nykaa has launched its brick-and-mortar store at Infiniti Mall, in Mumbai.The launch of the store is part of the company’s Omnichannel approach One tenth of telecom tower workforce may lose jobs, marketing corporate offices most vulnerable Although consolidation in the infra section of the industry has been on for a while, the hit will be worse now because of operators seeking to merge. Looking to partner telcos in India for smart appliances: LG It's looking to address requirement for network provider, connect different appliances in household Police ask telecom companies to suspend 3G and 4G services in Kashmir Valley The decision was taken after several videos surfaced in recent days, some showing local politicians being threatened by terrorists in various parts of the Valley and others which showed alleged atrocities by Army, police, CRPF or other para-military forces deputed for Parliamentary bye-elections. US telecoms industry set for M A negotiations frenzy USA-TELECOMS/M&A (DEALTALK):DEALTALK-U.S. telecoms industry set for M&A negotiations frenzy Telecom consolidation to bring more opportunities than than roadblocks: VMware India MD, Arun Parameswaran In addition to telecom, VMware has a strong footprint in the BFSI sector helping banks make the digital transformation straddling legacy systems with the with new age systems. Digital India: New security framework for mobile payments soon ... NPCI wants to build new security standards for mobile payments to prevent any major loss of public money, a top official said. Proposed RBI norms worry mobile wallets Currently, e-wallets and other such prepaid payment instruments can only hold up to Rs 20,000 per user with minimum KYC. Jio has made these things easier in India Airtel's free 4G data offer is likely to complete with Jio's latest freebie scheme. Dabur plans call centre for ayurveda Dabur, whose consumer approach is based on a range of products described as ‘natural, will have a call centre for ayurveda to advise buyers on health issues and prescribe drugs. Nestle India rejects Rajasthan food regulator’s report on 'substandard' Cerelac Cerelac Wheat was found to be substandard by the chief medical and health officer of Rajasmand district in Rajasthan in a report dated October 14, 2016. FSSAI wants edible oil manufacturers to make small packs for rural India “We are also requesting the government to see if there could be a differential duty on smaller edible oil packages," chairman of food products regulator in India said. Hamdard taps youth with Rs 7000cr ready-to-drink segment The company leveraged its existing strong summer drink concentra brand RoohAfza that generates about 40 per cent of the FMCG's topline close to Rs 700 crore. Milk adulteration more in North India: FSSAI To address this issue, the regulator has already developed a testing kit to check the quality of milk and is looking for investors for its bulk production. FSSAI Develops Cheap Testing Kits To Check Milk Quality The machines may be installed in Kolkata to start with and later in other big cities, Bahuguna said without disclosing the name of the company. Home Food Spencer's Retail expands footprint in Vishakapatnam, opens 12896 sq.ft. store in city Spencer’s Retail, an RP-Sanjiv Goenka Group Company, announced opening of its 12,896 sq.ft. in Vishakapatnam. Located at Marripalem NH 16, near R&B Junction, the new Spencer’s store launch makes Vishakhapatnam the second city in South India have more than 9 Spencer’s store after Hyderabad. Speaking about the launch, VP – Coastal Andhra Pradesh (CAP) & Now, Baba Ramdev's Patanjali opens 'Postik' restaurant in Chandigarh Yoga Guru Baba Ramdev who had set up Patanjali Ayurved Limited in the year 2006 has now ventured into the restaurant business. Should the govt hold stake in tobacco firms? A group of individuals, some of whom run the Tata Trusts, have filed a case in the Bombay high court seeking the govt to relinquish its stake in tobacco firms Nawal Sharma, President Head Business Transformation, Kwality Limited With the imposition of GST, there would be ease of doing business in India as we do multiple indirect taxes and compliance costs would fall. Punjab: Basmati prices up, but farmers fail to cash in Farmers cannot wait to sell their crops in the wait of good price as they neither have heavy storage capacity nor enough money. brands: Beer companies to collectively launch new brands in India India to welcome about a dozen new beer brands Assocham Wants Govt To Clarify GST For Ecommerce; Says Current Definition Too Wide & Vague India’s leading association of traders and merchants, Associated Chambers of Commerce and Industry (Assocham) has complained that current definition and scope of e-commerce under Goods and Services Tax (GST) regime is ambiguous and unclear. 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