Comprehensive data integration using SAS data warehousing and business analytics would speed the investigation of suspicious transactions by SEBI and boost investor confidence, SAS said in a statement
New Delhi: Business analytics software and services provider SAS today said it has been selected by the Securities and Exchange Board of India (SEBI) as a solutions partner for the market regulator's investigations department, reports PTI.
Comprehensive data integration using SAS data warehousing and business analytics would speed the investigation of suspicious transactions by SEBI and boost investor confidence, SAS said in a statement.
"Increasing regulations and scrutiny demand sophisticated analysis and monitoring to spot market malpractice and trading compliance. To achieve the robust surveillance required to ensure unbiased trading platforms, SEBI choose SAS for its investigations department," it said.
SEBI's investigators and analytics group would use SAS to analyse market behaviour.
The market regulator would be provided robust warehouse, high-end analytics and better predictive modelling and text mining to handle data growth and build a tighter fraud surveillance and investigation platform.
Commenting on the selection, SEBI general manager Avneesh Pandey said: "Pulling data into our warehouse and analysing it the next day is our single most important task. With SAS, we maintain uniformity, making data easier to analyse. The result is smarter investigations for quicker results."
SEBI already collects 25 GB of data on the market every day and this is likely to reach around 80 GB per day within two years.
"With SAS, we can accelerate the process of utilising this data," Mr Pandey said.
Besides addressing growing volumes of data, SAS' technology would give SEBI a single view of customers across exchanges.
"SEBI can now establish relationships between market participants and generate more accurate fraud alerts based on market participants' behaviour. SEBI also wanted to tap unstructured data, including analyst recommendations, blogs, annual reports, etc, to understand the social media impact on investor behaviour," the statement said.
SEBI intends to build analytical models using SAS' 'EnterpriseMiner' system to identify known market manipulation patterns such as circular trading, pump and dump, insider trading and front-running.
"We are very pleased to partner with SEBI in building best practices to spot market malpractice and trading compliance, besides addressing the growing volume of data.
SAS... will be able to provide SEBI a single view of customers across exchanges," SAS regional director (South East Asia) Sudipta K Sen said.
ITC had introduced the 'Armenteros' range of handrolled cigars in Delhi, Mumbai and Kolkata last year
Diversified business group ITC opened its first retail store selling premium cigar brand 'Armenteros' in Delhi as part of plans to strengthen its presence in the premium tobacco segment.
The company had introduced the 'Armenteros' range of handrolled cigars in Delhi, Mumbai and Kolkata last year. According to sources, ITC is planning to launch the luxury store, 'Cigar Republic', in other key metros in future, apart from the capital.
According to market estimates, the premium cigar category is growing at 20% per annum in the country, with increasing disposable incomes and exposure to global lifestyles, though the segment is still at a nascent stage.
Apart from cigars and accessories, the store, which is located at ITC Maurya Hotel, will also have a library showcasing literature on cigars and other objects of interest to cigar connoisseurs.
'Armenteros' cigars are being sourced from the Dominican Republic and are being manufactured at La Aurora, which is one of the oldest cigar companies in the world. Depending on the cigar sizes (Churchill, Torpedo, Corona, Petit Corona and Robusto), they are sold at prices ranging from Rs3,000 to Rs10,000 per pack.
On Tuesday, ITC ended 0.1% up at Rs202.65 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.96% to 16,498.47.
TVS Logistics Services handles over $1.5 billion worth of parts annually and controls about 3 million sq ft of warehouse space in India
TVS Logistics Services on Monday inaugurated its logistics assembly facility at Sholavaram near Sholavaram in Chennai, set up at an investment of Rs2.5 crore.
The facility, spread across 70,000 sq ft, would be a dedicated plant for Hinduja Group flagship company Ashok Leyland's power solution business, a company release said.
Ashok Leyland managing director Vinod Dasari inaugurated the new facility in the presence of TVS Logistics managing director R Dinesh.
The facility would assemble Ashok Leyland's genset engine powerpacks in the range of 10-2,000kVa capacity for domestic and export markets. It would have a capacity of producing 14,500 units per year which can be increased to 30,000 units.
"The facility is a milestone for us as very few supply chain companies globally have the capability to provide end-to-end solutions which include taking ownership of sub-assemblies..," said Mr R Dinesh.
"....Our power solution business is growing robustly in tune with the domestic genset market that is expected to reach two lakh units shortly", said Mr Vinod K Dasari.
TVS Logistics Services handles over $1.5 billion worth of parts annually and controls about 3 million sq ft of warehouse space in India. The company reported an annual turnover of over 1,200 crore in 2010-11.