SBI to set up windmills for captive power

SBI's mill in Tamil Nadu will generate 4.5MW of power, the Maharashtra mill will provide 9MW and the Gujarat mill 1.5MW, totalling 15MW.

State Bank of India (SBI) is setting up windmills in Tamil Nadu, Maharashtra and Gujarat to generate 15MW of power for its own use, reports PTI.

While the mill in Tamil Nadu would generate 4.5MW of power, the Maharashtra mill would have a capacity of 9MW and the Gujarat mill of 1.5MW, an SBI press release said.

The windmill in Panapatti village in Tamil Nadu's Coimbatore district will be inaugurated on 23rd April.

SBI was the first bank in the country to start generating power from non-polluting sources for its own use, the release added.


Is the Sensex headed for 16,000?

Since last June, the market has suffered three major corrections. On each occasion, it has fallen by 10%-15%. Are we headed for an encore?

After a huge rally spanning as many as nine weeks, the bulls seem to have lost steam. The Sensex, after reaching the intra-day high of 18,047 on 7th April, has closed at 17,400 on 19th April. As Moneylife has been warning over the past week (read here and here), a significant market decline is playing out. How long will this persist?

In just under a year, the Sensex has been witness to three major corrections. In all these instances, the index has shrunk 10%-15%. The first correction occurred between June and July last year. On 10 June 2009, the index hit an intra-day high of 15,580. It then entered a freefall, before hitting the intra-day low of 13,219 on 17 July 2009. This marked a 15% decline (2,361 points) in just over a month.

Another correction began after 17 October 2009, when the index hit an intra-day high of 17,493. Soon, the markets began losing steam and witnessed a dramatic decline to touch a low of 15,805 on 30th October. This meant a correction of around 10% (1,688 points).

The last major correction occurred early this year, when the Sensex shrunk by 12% in just over a month. On 6 January 2010, the index touched the intra-day high of 17,790 after a sustained rally for over two months. By 8 February 2010, the index had fallen to 15,652, marking a 2,138-point decline from the earlier high.

On an average, the market has corrected by around 12% in each of these three instances. Already, the market has begun a reversal after breaking through the 18,000 barrier earlier in the month (7th April). Putting the earlier corrections into context, if another significant correction was to play out, the index may decline by around 2,000-2500 points to a sub-16,000 level over a month. So far, we have witnessed only about 10 days of correction.




7 years ago

U Have one more opp. to play the market. If u have bought at previous low level, sell, u are making profit. If it falls further arount 15K buy back. If the market does not test that low, u find out new scrips. It is not advisable to buy n average in falling market. But who prevents u in buying in rising market?. Stand in the Khyber pass, others have to pass by u. Amen!

Achyut Godbole chairs Moneylife Foundation workshop on books

This IT professional-turned-writer has gone to great lengths to make complex subjects intelligible to laymen

Noted writer and former chief of many top IT companies Achyut Godbole said he likes to enlighten and educate others with his writing and is ready to go that extra mile to help his readers comprehend 'complex' and varied subjects, like computers, economics and music. Speaking at a book discussion organised by Moneylife Foundation on 17th April, Mr Godbole shared his rich experience and the reasons for his becoming a writer. He said he likes to go to “any lengths to understand a particular subject” and then expound it in simple language that everyone can understand.

Mr Godbole has authored several books on technical and general subjects. His technical books, including 'Operating Systems', 'Data Communications and Networking' and 'Web Technologies', have been published by Tata MacGraw-Hill (India). Some of these books have also been translated into multiple languages, including Chinese. Many of them are being used as textbooks and reference books all over the world.

Sharing his journey from a CEO to a writer, Mr Godbole said while working with Patni Computer Systems, he found that those working under him were more knowledgeable in terms of computers and software. So, to understand all the technical jargon, he started reading books on these subjects and then decided to share his knowledge by becoming a writer. His first book, 'Operating Systems', got fulsome praise from many IT professionals including Infosys founder NR Narayana Murthy.

Mr Godbole has authored five books in Marathi (his mother tongue). His ‘Sanganakyug’ (on computers), ‘Boardroom’ (on management) and ‘Nadvedh’ (on music), Kimayagar (on science), ‘Zapoorza’ (on literature) and ‘Arthat (on economics)’ are immensely popular among both students and experts in these fields.

'Boardroom', his book on management, is based on his experience working for top IT companies and his frequent travels across the globe. Written in Marathi, this book provides an excellent introduction to corporate concepts and practices. In 'Kimayagar', he has dealt with scientific concepts about the earth and the progress of mankind.

Mr Godbole has an impressive collection of around 4,000 books and 3,000 CDs. Speaking about his passion for books, he said that he had trained himself to draw relevant information from these books while he was writing on a particular subject.

"Currently, I am working on four books on different subjects. My book on telecommunications will cover the history of this industry from its earliest stage to today's mobiles, Facebook and Twitter. In my second book on technology, I am trying to provide complete information on technologies like mp3, mobile communication, etc. I am also working on a book about the workings of the brain and the truths and myths associated with it," the writer said.

Mr Godbole’s writing style is informative and yet informal. This enables his readers to enjoy the process of assimilating knowledge on diverse subjects.

Earlier, Sucheta Dalal, founder-trustee of Moneylife Foundation, spoke about the goals and activities of the Foundation. Debashis Basu, editor & publisher of Moneylife magazine, welcomed Mr Godbole with a bouquet.

Pictures of the event



one dimantion

6 years ago

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