Tarla Dalal died of heart attack Wednesday morning at her residence in South Mumbai
Tarla Dalal, known for her popular cookery show and several top selling books on cookery passed away on Wednesday morning following a fatal heart attack in Mumbai. She was 77.
This message was posted on Tarla Dalal's Facebook page by her team:
"We would like to thank all of you for your support and affection through the years of Mrs. Tarla Dalal's career. She is no more with us as she expired in the early hours of this morning. We thank her for all the happiness that her talent has given to us and our families..."
The celebrity chef was also awarded the Padma Shri in 2007.
She started taking cooking classes in Bombay in 1966 and published her first cookbook in 1974. The book was an instant success and went on to become a classic in cookery books and sold over 1.50 lakh copies.
Nifty may rebound to the level of 6,260. However, the rally may not sustain
Tuesday’s weakness on bourses continued today as well. Although the benchmark opened Wednesday in the positive, the stock markets struggled to remain in the green. By the end of the session, the indices hit their day’s low and closed almost at the same level. Today was the second consecutive session, when the indices ended in the negative and also near the day’s low. From here we may see the Nifty rebound to the level of 6,260. However, the rally may not sustain.
The Sensex and the Nifty opened at 21,005 and 6,261, respectively. The Sensex moved down from the level of 21,045 to 20,861 while the Nifty moved down to the level of 6,209 from 6,270. The Sensex closed at 20,895 (down 80 points or 0.38%) while the Nifty closed at 6,215 (down 38 points or 0.61%). The National Stock Exchange (NSE) recorded a lower volume of 68.48 crore shares. Of the 1,222 shares on the NSE, 611 advanced, 557 fell while 54 remained unchanged.
Except for IT (up 1.36%); Pharma (up 0.86%); PSE (up 0.21%) and Infra (up 0.08%) all the other indices on the NSE ended in the negative. The top five losers were PSU Bank (3.60%); Realty (1.91%); Bank Nifty (1.79%); Finance (1.72%) and Media (1.40%).
Of the 50 stocks on the Nifty, 14 ended in the green. The top five gainers were N T P C (3.46%); TCS (2.50%); Sun Pharma (2.05%); Ranbaxy (1.55%) and Infosys (1.26%). While the top five losers were State Bank of India (3.47%); Jaiprakash Associates (3.44%); PNB (3.44%); DLF (3.17%) and Ambuja Cements (2.84%).
The Reserve Bank of India (RBI) should start tapering its dollar swap facility for oil companies given it has already been priced in by markets, Bank of America-Merrill Lynch said in a report dated 5th November. The removal of the dollar window could mark a key signal of stability for the rupee, and the RBI has said any such action would be done in a calibrated manner.
US indices ended mostly in the red on Tuesday. Concerns existed US Federal Reserve to reduce stimulus for the US economy earlier than analysts had projected after the US services gauge expanded faster-than-estimated. US service-sector business activity picked up in October, with the Institute for Supply Management's services index up to 55.4 last month despite expectations by economists for a dip to 54. A reading above 50 indicates expansion.
Asian indices had a mixed performance. Nikkei 225 was the top gainer, up 0.79% while Shanghai Composite was the top loser, down 0.82%.
Indonesia's economy expanded less than 6% last quarter as higher interest rates weighed on consumption and exports fell. Gross domestic product increased 5.62% in the three months ended September from a year earlier, the Central Bureau of Statistics said in Jakarta today. That compares with 5.81% growth for the second quarter.
European indices were trading in the green and the US Futures were also trading sharply higher.
In Europe, the European Union yesterday cut its forecast for euro-area growth next year and raised its unemployment estimate as the economy struggles to regain momentum after a record-long recession.
With growth momentum yet to see a pick-up, margins for Jubilant FoodWorks continued to be under significant pressure during the September quarter. Yet its share price jumped over 16% on Tuesday just because it decided to increase product price?
Jubilant FoodWorks Ltd (JFL), which runs the Dominos and Dunkin’ Donuts brands in India, has reported poor results during its third successive quarter. However, despite the sharp deterioration, on Tuesday its share price jumped over 16% to Rs1,388.70, just below its 52-week high on the BSE. According to media reports, the jump was due to confirmation of product price hike by the company management.
JFL management plans to reduce promotions such as “buy one get one” on Wednesdays that has been in place for the past few months. While promotional spends have been stepped up in this quarter, starting mid-November in to the festive season, the company will bring them down.
Nomura, while reiterating its 'reduce' rating on JFL, said, with growth momentum yet to see a pick-up, margins continuing to be under significant pressure and valuations at 40.4x FY15F for the company. For the quarter to end-September, JFL reported just a 3% increase in its net profit to Rs33.24 crore from Rs32.35 even as its total revenues, including sales jumped 28% to Rs436.70 crore, same period last year. During the second quarter, the company reported total expenditure of Rs371.40 crore. JFL attributed the hike to increased input cost inflation, higher level of sales promotions and spends on marketing.
"Jubilant FoodWorks’ Q2FY14 results were marginally below expectations at the top line but the real negative surprise was on margins, which came in at 15% down 220 basis points (bps) versus our estimate of 16.5% down 70bps. Same-store sales growth (SSSG) came in at 6.6% in Q2FY12, which is only marginally ahead of the 6.3% they delivered in Q1FY14. There did not seem to be any pick-up in growth momentum during the quarter," it said.
Nomura said, according to the feedback from JFL management, full year number on SSSG is likely to come in lower than 8% to 10% it had guided to earlier. For the first half of FY14, it was 6.5%, which means management does not expect a strong pick up in the near term, Nomura said.
JFL revised upward its target to open 135 Domino's Pizza restaurants in FY14 compared with 125 earlier. During Q1, the company opened 74 restaurants. Similarly, the company increased its target to 20 from 18 for opening Dunkin Donuts store in the country. Jubilant is entering a period of higher costs and uncertain revenues. Are investors who are jumping into the stock now being too optimistic? Jubilant FoodWorks is trading at 16.49 times of its FY13 net profit.