Spending
A look at how the hike in rail fares will pinch your pocket

A Sleeper Class ticket on a Mail or Express train between New Delhi and Thiruvananthapuram which used to cost Rs559 will cost Rs745 from midnight of 21st January

New Delhi: A passenger travelling to Thiruvananthapuram from New Delhi on a Mail or an Express train in Sleeper Class will now have to shell out an extra Rs186, reports PTI.

 

Similarly, a passenger travelling by the same train on an AC Three Tier ticket will have to pay an extra Rs312, according to the hike in passenger fares announced by the railway ministry.

 

A Sleeper Class ticket on a Mail or Express train between New Delhi and Thiruvananthapuram which used to cost Rs559 will cost Rs745 from midnight of 21st January. Similarly, an AC Three Tier ticket in the same train which costs Rs1,573 will now cost Rs1,885.

 

An AC Three Tier ticket on a Rajdhani Express between New Delhi and Ernakulum, which used to cost Rs1,804, will now come at Rs2,156, a hike of Rs352.

 

A New Delhi-Patna Sleeper Class ticket will now cost Rs385, a hike of Rs66. Similarly, Sleeper Class travel in a Mail/ Express train between New Delhi and Mumbai Central will cost Rs465, a hike of Rs87.

 

An Express Train Sleeper Class ticket between New Delhi and Howrah (via Gaya) will now come at Rs475, following a hike of Rs89.

 

People travelling to Chennai Central from the national Capital on a Sleeper Class ticket in a Mail or Express train will have to pay Rs620, an extra Rs132.

 

A Sleeper Class ticket on a Mail/ Express train between New Delhi and Guwahati (via Barauni) will cost Rs590, following a hike of Rs122.

 

Same fare hike have been made applicable on AC Three Tier tickets, with a New Delhi-Patna ticket now costing Rs1,005, a hike of Rs106.

 

A travel to Mumbai Central from New Delhi on an AC Three Tier ticket on a Mail/ Express train will now come at Rs1,205, following a hike of Rs140

 

Chennai Central to New Delhi ticket in AC Three Tier will now cost Rs1,595 after a fare revision of Rs221.

 

In Rajdhani Trains Mumbai Central-New Delhi ticket which costs Rs1,247 will now come for Rs1,450 a variation of Rs203.

 

Howrah-New Delhi travel in AC Three Tier on a Rajdhani will now come at Rs 1,483 instead of Rs1,273, following a hike of Rs210.

 

A Rajdhani AC Three-Tier ticket to Dibrugarh in Assam from New Delhi will now cost Rs1,982 instead of Rs1,674.

 

In Shatabdi Express, an AC Chair Car ticket from New Delhi to Lucknow will cost Rs576 instead of Rs526, following a hike of Rs50.

 

Travelling to Bhopal from the national Capital on a Shatabdi will now cost Rs715, following a hike of Rs68.

 

Travelling on a Duronto Express in AC Three Tier between Mumbai and Howrah will now cost Rs1,561 instead of Rs1,373.

 

Similarly, a travel from Sealdah to New Delhi on an AC Three Tier ticket in Duronto will now cost Rs1,285, following a hike of Rs149.

 

A travel from Pune to Nizamuddin (Delhi) will be dearer by Rs150, as the ticket now will cost Rs1,311 instead of the present Rs1,161.

User

Smaller companies bearing brunt of economic slowdown: RBI data

The aggregate net profit margin of the corporate sector was impacted by “poor performance of smaller companies,”  an RBI analysis of data said

Mumbai: Smaller companies are mainly bearing the brunt of economic slowdown, having recorded overall losses in the first half of the current fiscal, a Reserve Bank of India data analysis revealed, reports PTI.

 

On the other hand, larger corporates have performed better during the April-September 2012-13 which witnessed moderation in economic growth to 5.4% from 7.3% in the year ago period.

 

“Smaller companies (with sales up to Rs100 crore) incurred losses in H1 of 2012-13, though larger companies recorded a higher rise in net profits,” RBI said in its analysis based on the performance of 2,832 listed non-government non-financial companies.

 

The aggregate net profit margin of the corporate sector, the analysis said, was impacted by “poor performance of smaller companies”.

 

On an average, the companies have a recorded a rise in net profit of 4.3% during the first half of the current fiscal, which for 2,832 companies is estimated at Rs 91,800 crore.

 

The slowdown has been mainly on account of deeper moderation in sales figures of the manufacturing and non-IT services sectors.

 

The companies in the Information Technology (IT), however, performed better than peers in other segments.

 

The net profit margin of the IT sector, RBI said, was above 17% in first half as compared to 5.7% for manufacturing and 4.9% for non-IT services sector.

 

Companies in sectors such as mining and quarrying, electric machinery, petroleum refinery, power generation and supply and real estate, have suffered losses during the period.

 

On the other hand, the sectors which performed better include food and beverages; textiles; paper products; cement; whole sale and retail trade; radio, television and communications equipment.

 

The analysis also revealed that the interest cost for the corporate sector shot up by as much as 24%, while increase in sales and expenditure worked out to be 12.3% and 13.6%, respectively.

 

As regards financial sector companies, the RBI analysis based on performance of 390 companies showed that there was a jump of 27.3% in net profit, mainly because of rise in income from operations.

 

It said that while their income went up by 27.4%, expenditure increased by only 18.9%.

 

Meanwhile, industrial output measured on IIP during the April-September period of this fiscal was 0.1%, down from 5.1% year-on-year.

User

American financial watchdog launches investigation into Herbalife

The Securities Exchange Commission is reportedly investigating Herbalife for being a pyramid scheme, spurred by the allegations of William Ackman of Pershing Square Capital

Ever since William Ackman blew the lid on Herbalife’s business model, Wall Street has been furiously whether or not the company is running a pyramid scheme. The comprehensive evidence gathered by Ackman, if true, is irrefutable and damning. According to Ronald D Orol of Marketwatch, unnamed sources have revealed that it has led Securities Exchange Commission (SEC), the American financial watchdog, to launch an investigation against Herbalife.

 

Sadly, multi-level marketing (MLM) schemes, though pervasive in India, continue to operate unhindered. Many innocent Indians have been lured haplessly and have lost a lot of money. Moneylife has been lobbying hard for stringent regulations and banning of MLM schemes. We had also covered the Herbalife episode in three parts. You can access Part I, Part II and Part III.

 

Robert FitzPatrick, an expert in examining and revealing deception and fraud in bogus home-based businesses, feels that if the SEC indicts Herbalife, it could be a game-changer as far as regulation is concerned. According to Pyramid Scheme Alert newsletter, a non-partisan, non-profit, all-volunteer consumer education group run by Robert Fitzpatrick, “Whatever this heated controversy brings forth, finally there is a real focus on and investigation of what previously was kept in the dark. Those who had dared to raise questions were personally vilified or sued by MLM lawyers or even harassed by government regulators. The MLM industry is one of the largest influence-buyers and lobbyists in Washington.” His book “False Profits” is the first one to critically examine the MLM industry.

 

Nearly two years ago, Moneylife had written to the Prime Minister’s Office (PMO), seeking intervention in the SpeakAsia MLM scheme to protect consumers. No response has been received yet and a Right to Information (RTI) query has been filed to seek whether the PMO has indeed taken any follow up measures.

 

Click here to see what we had written to the PMO office nearly two years back.

 

Clearly, there’s a conflict and confusion even on Wall Street. Interestingly, this whole Herbalife episode in America has now become a battle of wits between hedge funds. Bill Ackman has shorted the stock while, on the other end, Dan Loeb, whose hedge fund Third Point owns 8.9 million shares of Herbalife and feels it is worth more than $55, and has gone long. On the other hand, Ackman thinks it is worth zero. Herbalife is trading at $39.95 at time of writing this piece. Herbalife is due to present their rebuttal to Ackman’s presentation on 10 January in an investor conference. 

 

Will American regulators do anything? The final outcome of this saga and whether consumers will be protected is anyone’s guess. One only can hope that SEC will take some action.

User

COMMENTS

MOHAN

4 years ago

Modicare, Dxn, K-Link office raided by Kerala Police:

http://www.thehindu.com/todays-paper/tp-...

Sach

4 years ago

Thank you for providing exposure to this topic. The Herbalife/Ackman battle is one of the most significant takedown attempts of a major company, and anyone who wants to know more can simply go through factsaboutherbalife.com. The 330 slide presentation is very detailed.

On a related note, I hope it will force readers to compare the case of Herbalife to some of the MLM schemes that are propagating in India. You have done well to uncover Qnet, another fraudulent pyramid scheme but it's disheartening to see how many have fallen for it.

As a lawyer friend told me a few days ago, the history of scams is full of cases where the glib and the dishonest feed on the unwise and intellectually weak. It's the unfortunate truth, and at the end, the darwinian economic view is that the victims probably never deserved to keep their money after all!

That aside, i must commend your Foundation and the very important work it is involved in.

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