The three new entrants on the MSCI Global Standard Index (India) would replace SAIL, Housing Development and Infrastructure (HDIL) and Indiabulls Real Estate, with effect from 30th November
New Delhi: MSCI, a leading provider of benchmark indices globally, has decided to rejig its India Index to include three new stocks—Bharti Airtel, Idea Cellular and Power Finance Corporation (PFC), reports PTI.
The three new entrants on the MSCI Global Standard Index (India) would replace SAIL, Housing Development and Infrastructure (HDIL) and Indiabulls Real Estate, with effect from 30th November.
In another change, MSCI has decided to remove two stocks of the Vijay Mallya-led UB group—Kingfisher Airlines and United Breweries Holdings—from its Small Cap Index for India, along with other changes in this index.
Besides, Bharti Airtel would also be included in the MSCI Emerging Markets Index, along with Colombian firm Grupo Aval Acciones Pref and Chinese retailer Sun Art Retail Group.
All the changes would come into effect from 30th November and are part of a semi-annual index review for the MSCI Equity Indices, MSCI said in a statement.
Reacting to the news of their inclusion on the MSCI index, share prices of Bharti Airtel, Idea Cellular and PFC, jumped up on the bourses in Mumbai.
Bharti Airtel rose by 0.42% in post-noon trade to Rs 403.15, Idea Cellular surged 4.49% to Rs98.90 and PFC was up 4.76% to Rs168.20 on the BSE.
At the same time, HDIL fell by 6.56 per cent to a low of Rs 73.35, Indiabulls Real Estate dropped 3.73 per cent to Rs 65.65 and SAIL slumped 6.06 per cent to Rs 93 on the BSE.
MSCI has also rejigged its MSCI Global Small Cap Indices, where it would add ten new Indian stocks -- Britannia Industries, Eros International, HDIL, Indiabulls Real Estate, Indian Overseas Bank, Lanco Infratech, M&M Financial, Patni Computer and Texmaco.
At the same time, as many as 47 Indian stocks would move out of the MSCI Global Small Cap Index. These include Kingfisher Airlines, Bajaj Finserv, Birla Corp, Dish TV, Great Offshore, GTL Ltd, ING Vysya, Jubilant Life Sciences, K S Oils, Pantaloon Retail and United Breweries Holdings.
Several so-called Ayurvedic medicines readily available are found to contain steroids and heavy metal, both harmful to the human body if taken in excess
Ayurvedic medicines given by the vaidyas – be it in the form of bhasma or churan-, which people swallow in with great faith, could contain steroid and toxic metals such as lead, mercury and arsenic. According to experts, such medicines sold under the ‘Ayurvedic’ preparations often contain steroids and metals, and if used beyond permissible limit could lead to nervousness, indigestion, chest pain, seizures and even coma.
This information was revealed in a Right to Information (RTI) application. Mumbai-based consumer activist Dr AR Shenoy, who has experience in testing adulteration in food and medicine industry, filed an application under the RTI Act. He sought information on analysis of Ayurvedic Drug samples for presence of steroids and toxic metals above permissible limit by the Ayurveda Research Centre of KEM Hospital, Mumbai.
In the reply, the Research Centre revealed that out of the 244 Ayurvedic samples that were analyzed for steroid 96 samples were tested positive. About 18 samples had more than one steroid and it detected steroids like Betamethasone, Dexamethasone, Hydrocortisone, and Prednisolone in these samples.
It also stated that out of the 80 Ayurvedic samples that were analyzed for heavy metal such as mercury, lead and arsenal above permissible limit, 42 were tested positive or contain metals above the limit.
“If the statistics provided by KEM regarding steroid spiked Ayurvedic formulations are taken as an indicator of the state of Ayurvedic malpractice in Mumbai, then every four out of 10 patients undergoing Ayurvedic treatment are probably in danger of steroid toxicity,” says Dr Shenoy.
The Department of Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy (AYUSH), has kept the permissible limits of lead, mercury or arsenal less than or equal to 0.5 parts per million (ppm).
Dr Shenoy points out that a study, conducted in 2008 for over 230 products (reported in the August issue of USA Today) found that around 20% of remedies (and 40% of rasa shastra medicines) purchased over the Internet from both US and Indian suppliers contained lead, mercury or arsenic.
“Seriously, this issue needs to be tackled in India considering the fact that according to WHO (World Health Organization), up to 80% of people in India use either Ayurveda or other traditional medicines. Due diligence and care is taken or permissible limits followed for Ayurvedic medicines that are exported abroad. However at the domestic level it is absent,” added Dr Shenoy.
Safety concerns have been raised about Ayurveda, with two US studies finding about 20% of Ayurvedic treatments tested contained toxic levels of heavy metals such as lead, mercury and arsenic. Other concerns include the use of herbs that contain toxic compounds and the lack of quality control in Ayurvedic facilities.
Experts say that such level of toxic metals is hazardous for human body. For instance, lead interferes with body’s metabolism and is toxic to many organs and tissues including heart, bones, intestines, kidneys, and reproductive system. It hinders development of nervous systems and in severe cases could lead to seizure, coma. Like the element mercury, another heavy metal, lead is a neurotoxin that accumulates both in soft tissues and in the bones. Lead poisoning has been documented from ancient Rome, ancient Greece, and ancient China. Long terms exposure to heavy mercury vapour can result in brain damage and even death.
Due to these concerns, the Government of India ruled that Ayurvedic products must specify their metallic content directly on the labels of the product, but, writing on the subject for Current Science, a publication of the Indian Academy of Sciences, MS Valiathan noted that "the absence of post-market surveillance and the paucity of test laboratory facilities in India make the quality control of Ayurvedic medicines exceedingly difficult at this time.
(This is a Part 1 of a series on adulterated Ayurvedic medicines)
Promoters of virtual companies like Speak Asia earned crore of rupees using the internet. The authorities are now planning to develop a system to alert people about dubious activities of MLMs
Reacting on the proliferation of multi-level marketing (MLM) schemes and financial losses gullible people are suffering due to this menace, the law and enforcement agencies are planning to keep track of activities that are taking place over the Internet.
According to sources, the agencies are developing certain mechanism in collaboration with Internet search engines like Google, Yahoo and Bing to alert people about dubious activities like MLMs and to keep tab on such money multiplier schemes. However, this cannot be confirmed with top officials.
Earlier, while speaking at a seminar, Rajvardhan, additional commissioner of police, Economic Offences Wing (EOW), Mumbai, warned people about Speak Asia like ponzi schemes and called such schemes a social menace, which is proliferating across the country, especially in rural areas.
Mr Rajvardhan was speaking at a seminar on economic offences. Topics like multi level marketing schemes, forensic accounting to role of serious fraud division in economic offences were covered in the seminar, which was largely attended by officers from law and enforcement agencies.
While he spoke about various such schemes and issue faced during investigation, Mr Rajvardhan refrained from divulging any further information or talking to the press. He called the seminar as a private event even though the formal invitation to media did not say so. Interestingly, most of the information from his presentation is readily available in public domain.
During the seminar a detailed presentation on the various ponzi schemes, their modus operandi and the high income claim they make was made by a senior official. He also touched up on the schemes such as City Limousine, Speak Asia, which have duped people for amounts running in crore.
Talking about the issues faced by the investigating agencies in schemes like Speak Asia, Mr Rajvardhan said these companies are registered abroad and hence it is difficult to trace their money trail. The number of such schemes are increasing and there websites often claims ISO certification, PAN Card as legal documents. “Such documents do not have much value,” he added.