As part of the changes, Grasim Industries will replace Suzlon Energy in the S&P CNX Nifty, according to India Index Services & Products, a joint venture of NSE and Crisil. All changes will be effective from 25th March 2011
Mumbai: The National Stock Exchange (NSE) on Thursday announced changes in various indices including, Grasim Industries' replacement with Suzlon Energy in the Nifty index from 25th March, according to a release on the NSE website.
"From S&P CNX Nifty, Suzlon Energy would be excluded while Grasim Industries would get included in the same," according to a statement issued by India Index Services & Products, a joint venture of NSE and Crisil.
The changes are part of the exchange's periodic review. All the changes will be effective from 25 March 2011.
IndusInd Bank, Titan Industries and Zee Entertainment Enterprises will be included in CNX Nifty Junior Index as well as CNX 100 Index.
However, Corporation Bank, Grasim Industries, Mangalore Refinery & Petrochemicals (MRPL) will not be a part of CNX Nifty Junior Index. Further, Corporation Bank, MRPL and Suzlon Energy will not be inducted in CNX 100 Index.
Besides, Asian Paints, Crompton Greaves, HMT, Rashtriya Chemicals & Fertilizers and Shriram Transport Finance will be replaced by ABB, Oil India, Opto Circuits, Power Finance Corporation and Suzlon Energy in the CNX Midcap Index.
BigRock is in the business of getting your business going on the internet. The ads do the job of simply and cheerfully telling consumers that BigRock can make it work for them
The BigRock guys are on to a sound business idea. And being the first off the block, they ought to reap in rewards. Their business is to get your business going on the internet, that too at dirt cheap rates. Only Rs99 for a website, though the qualifier 'Starts at Rs99' portends much larger payouts.
Basically, BigRock provides business solutions which involve creating websites for wannabe entrepreneurs. With a personalised touch. There are four commercials on air, and the route used is humour. And as you can imagine, they feature entrepreneurs who deal in off-beat businesses. And the ads are about how they use their websites to prosper and grow.
The funniest one features a loan recovery agent, as he shoots out hot tips on how he recovers dues from defaulters. This includes public shaming, eunuchs and fake policemen. There's another one that features a housewife who's opened up a school for training maids. The execution of the 'coaching' sessions is pretty hilarious. The third one involves acting classes and the fourth is about a South Indian businessman who's started a nut manufacturing unit… the last two are not really funny, though they try very hard to be.
I am okay with the ads. While they would have been a lot funnier if they had featured totally absurd, incredible businesses (a maid training institute and a recovery agent are real businesses), they do the job of simply and cheerfully telling mass consumers that BigRock can make it work for them. The message of simplicity is delivered well, and that's important. 'Arre yaar, yeh toh mein bhi kar sakta hoon!' is the desired response from the ads, and that should happen.
But what's most exciting is the business idea itself. A personalised biz website at throwaway rates is a proposal that hasn't come too soon (wonder why no one thought about it so far). With net connectivity in India growing at a fantastic pace, this could be a super future dhandha. And being the first mover, BigRock is clearly going to benefit.
I have a business idea too. Wonder if BigRock will help me put out a website. As a journalist, I offer to pass on sensitive political information to lobbyists. I offer to help 'convenient' ministers find the right cabinet berths. I offer to plug corporate clients in my media writings. And I offer to help clients get favourable judgments in sticky court cases. The website will surely rock! Rock big!
The Index of Industrial Production fell from 2.7% in November and 18% in the same period a year ago. Industrial growth during the April-December 2010 period stood at 8.6%, unchanged in comparison to the corresponding previous period
New Delhi: India's Industrial growth slowed even further to a dismal 1.6% in December 2010, from 2.7% in November and 18% in the same period a year ago. The decline in the Index of Industrial Production (IIP) has been attributed to the poor performance of the manufacturing sector, reports PTI.
Industrial growth during April-December this fiscal stood at 8.6%, unchanged in comparison to the corresponding period of the previous year, official data released here today showed.
In December 2010, manufacturing growth plummeted to 1% from 19.6% a year ago. Consumer non-durables production declined by 1.1% during the month under review, in sharp contrast to 3% growth in the same period a year ago.
The capital goods sector also contracted by 13.7% in December. The sector had expanded by 42.9% in the corresponding period of the previous year.
Besides manufacturing, mining growth also fell to 3.8% in the month under review from 11.1% in the same period of the previous year. However, electricity generation expanded by 6% in December 2010 compared to 5.4% in December 2009.
In terms of industries, 12 out of 17 industry groups achieved positive growth in the last month of 2010.