Companies & Sectors
Acute shortage of iron ore fines

With more steel capacity coming on stream, the iron ore shortage will only increase. CARE Ratings suggest a control on iron ore exports

With the curb on illegal mining in two major iron ore producing states (Karnataka and Goa accounting for more than 35% share of the domestic production), India witnessed a significant decline in its iron ore production from the peak of about 218 million tonnes per annum (mtpa) in FY10 to about 135 mtpa in FY13. In line with the fall in iron ore production and with no new development of mines, availability of lumps in the domestic market also declined. Exports also plummeted to a decadal low of about 18 mtpa in FY13, as compared to the peak of about 117 mtpa achieved in FY10. Despite having ample resources, the scarcity situation has led to a vibrant debate on the government’s policy regarding iron ore exports and the distribution and allotment of existing and new mining assets. Both, the steel makers (for banning exports) and the private miners (against exports ban) hold a completely contrarian view regarding iron ore exports.


Overall, there is a shortage of iron ore and mining industry can do a lot better both with domestic steel manufacturers and export opportunities, points out CARE Research in a research note.


Gauging the need for utilising fines, steelmakers in the last 3-4 years have taken corrective steps to make themselves capable of using the low grade iron ore fines. These players are in the process of significantly increasing their sintering and pelletisation capacity, observes the research note.


According to CARE Research, sintering and pelletisation not only helps steelmakers in utilising the inferior grade fines, but also helps them in improving the quality of steel as well. Further pelletisation also helps steelmakers in transferring low grade iron ore fines in a much cleaner and efficient manner. Going ahead CARE Research expects significant pellets and sintering capacity addition. Sintering and pelletisation capacity is likely to increase from about 60 and 54 mtpa as recorded in FY13 to about 80 and 92 mtpa respectively during the next 3-4 years.


CARE Research believes these beneficiation plants are already facing acute shortage of iron ore fines for optimum utilisation of their existing capacity. Going ahead, with further increase in steel making capacity, the demand–supply gap for iron ore is only likely to widen, which additionally supports the argument to curtail iron ore exports.


New product launches coming up in 2015 for Mahindra and Mahindra

If you look beyond CY14F, Mahindra and Mahindra looks attractive, forecasts Nomura

Mahindra and Mahindra expects 8%-10% volume growth for both UVs (utility vehicles) and tractors in FY15. For autos, while the new launch cycle will begin in 2015, some major refreshes are planned in 2014. There is also better visibility on the improved performance of Ssangyong and two wheelers. The truck business will be more dependent on the commercial vehicle cycle.


The company management sees the non-tractor agri business growing at 30%-35% in FY14 and FY15. It is still small but could go on to become the next growth driver in a few years. This is according to a research note prepared by Nomura.


The company will launch two compact SUV platforms in 2015. One will target the rural SUV segment and the other will target the urban SUV segment – competing with cars.


The R&D spend has increased to 2.5% of sales in FY13-14. It should remain around 2.5%-3% going ahead as well, according to management. M&M has lower new product development cost due to frugal engineering, but the company does not cut corners.


For trucks market segment of the company, the breakeven point earlier was around 10,000 LCVs (light commercial vehicles) and 10,000 MHCVs (medium and heavy commercial vehicles). The company has brought this down from around 12,000-13,000 units but cost reduction is not visible due to the weak CV cycle.


In the trucks segment, Nomura forecasts that it may take a few years to reach targets. If the company does not deliver even after the revival of the CV cycle, a call will need to be taken to curtail investments.


The Nomura research notes concludes that with new product launches coming up in

2015, there is attractive value on the table for investors looking beyond CY14F. Nomura maintains its ‘Buy’ rating for the company’s share in the stock market and TP (target price) of Rs1,261 with 25% upside potential.


ASCI banned 87 ads including Ranbaxy, Dr Batra, P&G, Dabur, Emami and Cadbury in December

Health and personal care category continues to lead with the highest number of complaints received by ASCI during December 2013. However, throughout the year 40% of complaints came from education sector

The Consumer Complaints Council (CCC) under the Advertising Standards Council of India (ASCI) has banned as many as 87 advertisements out of 108 complaints it received across segments during December 2013. Health and personal care category continued to lead with the highest number of complaints received In December 2013. The CCC received complaints from various sectors like consumer durables, education, food and beverages and others. It includes ads from prominent companies like, Ranbaxy Garlic Plus, Procter & Gamble's Wella colors, Dabur’s Fem Bleach, Bajaj Electricals’ CFL bulbs, Emami Sona Chandi Chyavanprash, Johnson Baby Soap, Cadbury Choclairs, and Dr Batra’s Homeopathic Clinic.

During 2013, ASCI’s proactive initiatives saw five times increase (YoY) in the number of complaints. During 2013, the CCC decided on 1,842 complaints out of which 1,477 were upheld.  Out of the misleading advertisements, about 40% were ads from education sector and 36% from personal and healthcare category.


The CCC  found  the  following  claims  in health  and  personal  care  product  or  service ads  of  65 advertisers,  released  in  the  press to  be either  misleading  or  false  or not adequately/scientifically substantiated  and  hence violating ASCI’s Code. Some of the health care products or services ads also contravened provisions of the Drug & Magic Remedies Act. Complaints against the following ads were UPHELD –

  • The Body Care Slimming & Beauty Clinic for Men and Women:  Claims that they can help with 10 kg weight loss & 40-50 cms loss.
  • Ranbaxy Laboratories Ltd: Claims that by consuming Ranbaxy Garlic Plus every day is more effective than eating raw garlic or cooked.
  • Benda Acupuncture Slimming Centre: Successful treatment of paralysis, Parkinson, deafness etc.
  • Uranyx Healthcare: Claims that Ura Stone Drill Syrup helps you get rid of kidney stone.
  • Hotmain Dawakhana: 100% quick, effective and permanent treatment of impotence, premature ejaculation, small-thinness, semen in urine, night fall, sugar, nil sperms, less sperms.
  • Devi  Ayurvedic Products:  Claims  that  these  products  are  very  beneficial in  Liver  and  Kidney problems.
  • Hindustan Research Health Product:  Zeroton claims that ‘With the consumption of Zeroton one need not go for a regular exercise.
  • Adhi India Advanced Hair Restoration Centre:   Claims that they have received award for 'Best Hair Transplant & Hair Restoration Organization in India' for the year 2013.
  • Piles  Care  Point:  Claims  that  they  help  get  rid  from  all  types  of  addictions;  get  your  kidney stone removed by Ayurvedic medicine.
  • Baljiwan Medicines Pvt Ltd: The Shakti Tarang consists of Shilajit & Ashwagandha; Shilajit - Stops impotency, premature ejaculation and helps in increasing time; Ashwagandha - Makes new semen, makes semen thick and makes muscles energetic.
  • Welking Convergence Pvt Ltd: Morning  Mist  claims  that  the  Nectar  drops  are  specially formulated  combination  of  antioxidants.  The  glucose  tolerance  factors  in  nectar  drops  help insulin  combine  with  its  receptors  easily  &  hence  regulate  blood  sugar,  protects  pancreas  and manages diabetes and its complications.
  • Rechoice  Hair  Oil: Claims the ‘money  back  guarantee  on  hair  growth  upto  2  inch  within  35 days.
  • Welfeed  Remedies  Pvt  Ltd:  Luv  Kush  Drops  claims  that  it  enhances  memory  power and Luv Kush drops are 100% ayurvedic and free from side effects.’
  • Smile Dental Zone: Claims that it is the ‘most trusted no.1 advanced dental clinic.’
  • Keya Seths Aromatherapy: Keya Seths Keya Special claims that it helps you get ‘slim without gym’, ‘cut down on obesity’. ‘Reduces excess body fat, provides nourishment, enriched with natural goodness, 100% ayurvedic & ‘no side effects.’
  • Pangene Biotech Ltd: Bodydear Range of Products claim various misleading claims: Vaginal  Tightening  Cream  has  all  natural  ingredients  that  nourishes  and  feeds  the  cells  of  the vagina & helps in firmness & tightening. Breast  massage  cream  has  all  natural  ingredients  that  nourishes  and  feeds  the  cell  below  the breast, and helps in enhancing. Firmness, plumpness, fullness and younger looks.  Age  Defence  Q10  Protection  Cream:  This  advance  age-lock  formula  enriched  with  world patent seplift DPHP which is clinically proven to have 60% effective against wrinkles. It is a safe and effective way to look young.
  • Vinayaka Ayur Hospital & Panchkarma Center: Claims that it ‘cures epilepsy, cures jaundice from its roots in just 4-8 days with 100% guarantee.’
  • The  Inspiration:  Claims  that  you  can  ‘lose 10 kgs in 21 days,  4,000  people  have  taken  laser treatments and they are happy ‘happy losers’, instant inch loss by ultrasonic techniques’.
  • Teleone Consumer Products Pvt Ltd: Love Forever Capsules enhances sexual pleasure.
  • Hindustan Research Health Products: Claims that the consumption of Fit O Fit Capsule keeps one fit always.
  • Sri Sai Ayurvedashram: Claims that ‘with the commencement of the treatment, spots become invisible and it starts to appear as normal skin complexion.’
  • Sudama  Aushadhalaya:  Claims  that  it  can  help ‘remove white spots 100% from roots, be the spot new or old, the colour of the spots will change and mix up with the skin colour by applying our ayurvedic medicine’.
  • SR Pharma: Virgin Again Extra claims ‘result in 5 minutes,  ‘Helps to compress the vagina’,  ‘Helps removing the looseness of vagina’,  ‘helps in giving strength to the tissues in interior walls of the vagina and brings them back in the original form’,  ‘100% ayurvedic lotion.’
  • SharmayuSharmayu  Fat  Free  claims  that  ‘age 30, look 20’, ‘easy  way  to  look  slim  and smart’. Pack visual claim – ‘Loose excess fat’. ‘Product name - Fat free.’
  • Shiv Shakti Ayurved: Claims that it ‘removes stones without operation. Get relief from any type of piles in just 3 days’.
  • Uranyx Healthcare:  Uranyx range of products claims that it can help you ‘get rid of your chronic diseases’, ‘get rid of stone - DMR violation’. ‘Ura Stone Drill Syrup removes stone by finding them.’
  • Vegitot Cream: Claims that it ‘tightens the vaginal walls and makes you feel young.’
  • Kesh Apsara Hair Oil: Claims that it ‘stops hair fall in just 7 days.’
  • Breast Developer Oil & Capsules:  Claims that ‘see the beauty and size of your breasts in just 10 minutes for the size and shape.’
  • Amrit Ayurveda Enterprise:  Visual implies product meant to enhance sexual pleasure.  DMR violation on claims like ‘increases manpower and gives new strength and energy’, ‘brings enjoyment in youth and ageing’, ‘reduce weight without fasting or without exercise. ‘Reduce weight and look beautiful.’
  • Morbett: Femi Care Tonic claims that ‘ayurvedic medicine for women's complete health.’ was not substantiated.
  • Super  Height:  Claims that it will ‘increase height 2 times faster, India's no.1 product in India which  helps  grow  height  faster  which  is  beneficial  in  mental  and physical development’. ‘Increase 3-5 inch height in 3 months, very effective till the age of 34.’
  • Janki Aushadhalaya: Claims that it is ‘100% herbal ayurvedic medicine’, ‘make penis shapely and increase sex power by 30 to 45 minutes’, ‘get 100% rid of impotency, premature ejaculation, nil sperms, night fall, and bad habits like masturbation.’
  • Seva  Herbal: ‘Impotency’, ‘Premature Ejaculation’, ‘Safe and successful Treatment’,  ‘No 1 Herbal Clinic in North Bengal’,  ‘Size Enhancer.’
  • Krushna Health Care:  Claims that it can ‘get you permanently rid of premature ejaculation, impotency, small penis, thinness of penis, crookedness, night fall and weakness arose due to semen in urine.’ ‘100% herbal medicine.’
  • Dr Dev Slimming Clinic: Claims that it helps lose 4-5 kg weight loss in 10 days. It also offers money back guarantee as also 30 kgs weight loss is being promised.
  • Sun Clinic:  Claims that it is ‘100% successful treatment of STDs, impotency, nightfall, premature ejaculations.’
  • Sangita Homeo: Bahaar Oil/Shampoo claims that it is a ‘complete solution for baldness, hair fall, greying of hair and dandruff’,  ‘shows result in just 5 days’,  ‘re-grows hair’,  ‘gets rid of baldness.’
  • Amrut  Booty  Capsule:  Claims that it ‘gets rid of premature ejaculation’, ‘makes  semen  thick and removes its thinness’, improves the circulation of blood in the penis and removes the problems of penis, thereby making it more hard and fatty,  ‘stops night fall / semen in urine and is effective forever.’
  • HST Herbal Masti Course: Capsules/Oil claims that ‘successful treatment of sexual weakness, lack  of  sex,  premature  ejaculation,  manly  weakness,  flaccidity  of  organs,  smallness,  lack of sperms and nil sperms, mistakes of   childhood and masturbation, semen, nightfall.’
  • Sora GM:  Oil/Capsules claims that ‘the problem of Psoriasis can be solved permanently by Ayurvedic Medicine Sora-GM oil, capsule and pills.’
  • Meck Pharmachem Ltd: Glucomeck Tablets claims it is ‘very effective for the disease of Chicken Guniya.’
  • Tirth  Sai  Healthcare:  Proto  Capsules  claim  that  ‘Feeling  of  Energy,  Freshness  and Enthusiasm’, ‘Capsule  enriched with White Musli, Shilajit and Salam’, ‘Increases  immunity power’, Visuals imply product meant to enhance sexual pleasure.
  • France  Natural  Products:  Guarana  Fat  Burner  claims that it is ‘100% Natural & Veg, No Side Effects’,   ‘Guarana Fat Burner tablets dissolves the excess fat and max to lose weight even if you were fat since childhood. An individual can expect to lose anywhere between 05-20kg in 30 days depending upon the metabolism of your body’.
  • Dr Sheetal’s Slim Express: Claims that the patients’ insulin stopped or that she/he lost weight in the sessions of HFU & ion magnum.
  • Sarkar  Dispensary: The advertisement claims that it ‘Got International respect for the  second consecutive year in Dubai’,  ‘Successful treatment of childlessness, semen in urine, night fall, premature ejaculation, smallness, weakness, sagginess, anxiety’, ‘Successful treatment weakness raised due to Sugar, Age & Obesity.’
  • Aura Nutraceuticals Ltd: Kohinoorprash Ayurvedic Chyavanprash claims that Kohinoorprash - enriched with Hirak, Suvarna bhasma & Shilajit - to  keep away senility, debility and ageing process, - For sexual weakness & low immunity power, - For enhancement of longevity, vigour & vitality.
  • Kashyap Clinic claims that ‘sure benefit of internal weakness, leukoria, by Ayurved and Yoga.’
  • Piramal Enterprises Ltd: Polycrol Xpress Relief claims that ‘It can knock out acidity in 5 seconds.’
  • Dr Batra’s Positive Health Clinic: Dr Batra’s Homeopathic Clinic claims that it is ‘Awarded as India's only Trusted Brand in Homeopathy - Brand Trust Report – 2013.’
  • Shree Baidyanath Ayurved Bhawan: Baidyanath Vita Ex Gold Plus claims that it ‘Never lets you down’, ‘Gold Bhasma - Scientifically proven to be a natural potent aphrodisiac’, ‘Baidyanath Vita-ex Gold Plus Capsule - For Vigour & Vitality.’
  • Bio - Green Healthcare claims that it ‘Helps get rid of sugar, obesity, constipation, joints pain, hair problems, gas- acidity.’
  • Innovative Cure claims ‘Complete freedom from baldness’, ‘No increasing white spots (Leucoderma)’, and ‘Get the skin colour immediately.’
  • Sehat  Homoeopathy claims ‘Get rid of Baldness permanently, grows hair in just 14 days’,  ‘Natural Permanent Hair’,  ‘Pain free procedure’,  ‘100% Guaranteed Result.’
  • Shivani Aushadhalay & Naturopathic Hospital claims ‘Treatment of increasing chest and height.’
  • Emami  Ltd: () Zandu  Sona  Chandi  Chyawanprash  Plus  claims  that  the  product  gives  a child a sharp brain like Einstein & immunity like Bheem.

  • Kuzaolin  Slimming,  Laser,  Beauty  &Ayurveda  advertisement  promises  weight  loss  of  5  kg and 10 kg in 1 week with lipolysis.
  • Dr P K Jain Clinics claims ‘Meet for most successful treatment of Sex Problems and less sperm count.’, ‘World's No.1 sexologist Top ranking sexologist.’
  • AAA Teleshopping P Ltd:  Sampoorna Vastu Shanti Sangreh advertisement shows that some TV actors claim that this product will do Miracles and will remove all the sorrows of the buyers of this product.
  • Shri Guru Nanak Dev Ayur Dispensary: The advertisement claims ‘Assured treatment of hair problems (visual indicates baldness), skin disease, obesity.’
  • Clarins: Clarins White Plus claims that ‘After 4 weeks, Asian women testing this product saw the  following  results:  91%  Less  yellowish  skin  tone,  87%  More  even  and  clearer  complexion, 87% Improved rosy luminescence’ Super: Satisfaction test, 53 Asian women, 4 weeks.
  • Suo motu: Johnson & Johnson Ltd (Johnson Baby Soap) claims Saumyata ke 12 tests.)
  • Dabur India Ltd: Fem Bleach Cream claims that is ‘the first dermatologically tested bleach.’
  • Go Addiction Plus claims that, ‘the use of this product for the perfect cure for the people addicted with alcohol, cigarette, tobacco, etc.
  • Procter & Gamble Hygiene and Health Care Ltd:  However the claim “Wella colour provides superior damage protection”, was not substantiated.



Anurag  Aggarwal  Institute  of  Public  Speaking:  claims ‘ISO9000-2000 certified’, MPs from various  political  parties  as  their  clients,  ranking  by  Google  as  No.1,  were  not  substantiated.   The Website Ad contravened Chapter I.1 of the Code.  The complaint was UPHELD.


Saffron Eduworld Pvt Ltd’s Saffron  Eduworld  Coaching,  BSC  Academy,  National  Institute  of Banking,  Tara  Institute,  Lakshya  Bankers,  National  Institute  of  Nursery  Teachers,  Jeet Conceptual  Classes,  Indian  Institute  of  Emergency  Medical  Services  (IIEMS),  Karunya University’s Karunya School of Business, Leadership and Management Complaints  against  advertisements  of  All  above  educational  institutes  were  UPHELD  because  of unsubstantiated claims that they ‘provide 100% placement and/or they claim to be the no.1 in their respective fields’.


Bajaj Electricals Ltd:
(Bajaj CFL Bulbs shows poor lighting, hides skin fairness of a girl who has to meet a potential suitor the next day.  The ad denigrates women based on the color of the skin of the girl. The complaint was UPHELD.)


The CCC concluded that the claims mentioned in these 7 advertisements were not substantiated.  The advertisements contravened ASCI’s Code.  The complaints were UPHELD.

  1. Organic Living Pvt Ltd: Organic Living Fat Out Oil claims that it removes excess fats in few days of its use. 
  2. Star Vision Aloe Star Juice: Claims that it helps ‘control high blood pressure in 30 days. Effect starts from the 1st day.’ ‘First time in India most viscous, fibrous and pure Aloe Vera juice’. 
  3. Cadbury India Ltd: (Cadbury Choclairs claims that this chocolate does not stick in your teeth. They changed their name from Cadbury eclairs to Cadbury Choclairs claiming the chocolate does not stick.)

  4. Nashik Vintners Pvt Ltd: Sula Vineyards claims that ‘Diwali Manaye Bharat Ki Pasandida Wine Ke Saath Sula Vineyards A/c. 12.5% v/v.’
  5.  Jeevan Sanchay Distributors: Jeevan Sanchay Soup (powder) claims that ‘Soup Maker - Best and world's first for reducing weight’,  ‘100% Natural’,  ‘Jeevan Sanchay Powder (Churna) is world's  first  technique  for  reducing  weight,  without  exercise, medicine, fasting, operation,  chemicals, artificial flavours, sugar and without salt,  ‘This powder is effective on other effects of obesity along with reducing weight’,  ‘Reduce weight 5 to 15 kg in 30 days’.
  6. Vimal Vimal Pan Masala claims that it is ‘world's No.1 selling Pan Masala’. 
  7. Haldiram  Foods  International  Ltd: Haldiram Salted Peanuts  claims  that  the  pack  shows,  a whole  nut  which  is  white  and  large  in  size,  which  appears  to  be  export  quality.  Whereas the packet contains cut pieces and roasted half nuts.


ICICI  Bank  Ltd:  ICICI  Pockets  advertisement  shows  a  lady  driving  a  scooter  with  2  pillion (children  on  the  back)  riders  which  is  against  the  rules,  no  one  is  wearing  a  helmet  and  she  is  also depicted  as  promoting  unsafe  driving  as  she  has  only  1  hand  on  the  handle. The Ad depicts unsafe practices.  The website advertisement contravened Chapter 3 of the ASCI Code. The complaint was UPHELD.

Microtek International Pvt Ltd:  Microtek Inverter UPS claims that the inverter saves electricity was not substantiated. 

JAM venture Publishing Pvt Ltd:  The advertisement is a false job advertisement for the Royal National Hotel, London. 

Ceat Ltd: In the TVC, a girl is shown driving a car while another lady sits in the backseat. They are constantly talking to each other. The protagonist in the TVC is shown driving carelessly and the TVC shows an unsafe practice.  The advertisement contravened Chapter 3 of the ASCI Code and the Guidelines on Advertisements for Automotive Vehicles.  The complaint was UPHELD.


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