Stocks
Tier-1 IT scores over Tier-2 IT, says Nomura

Benefits of scale can be leveraged at Tier-1 IT to make necessary investments in newer opportunities and this may help outperform Tier-2 IT in future

Tier-2 IT stocks have outperformed Tier-1 IT stocks by a wide margin over the last year. Assuming an index with market capitalisation-based weights, Tier-2 IT stocks have nearly doubled (up 96%) as compared to the 53% gains notched by Tier-1 IT stocks. What has driven this outperformance in Tier-2 stocks and will this outperformance reverse?

 

Nomura believes expectations of equalisation in growth and earnings performance between Tier-1 IT and Tier-2 IT is largely captured in the valuation discounts narrowing. But questions on longer term sustainability of growth will still be an overhang at Tier-2 IT, which is likely to limit further narrowing of valuation discounts. Nomura believes that Tier 1 IT scores over Tier 2 IT on the following counts:

 

(a) Predictability versus volatility: There is greater predictability of revenue growth and margins at Tier-1 IT vs higher volatility at Tier-2 IT.
 

(b) Diversification vs concentration: Tier-1 IT has more diversified presence across all segments (geography, industry and service line) with higher exposure to faster growing and underpenetrated segments like IMS and BPO, while Tier-2 IT still remains largely ADM (application development and maintenance) centric. ADM is the most penetrated of the India IT service lines.
 

(c) Benefits of scale can be leveraged at Tier 1 IT to make necessary investments in newer opportunities like SMAC (social, mobile, analytics and cloud), Europe and products/platforms, without impacting margins.

 

Nomura includes Mindtree (MTCL IN), Hexaware (HEXW IN),

Persistent (PSYS IN), Eclerx (ECLX IN), NIIT Tech (NITEC IN) and Infotech Enterprises (INFTC IN) under Tier-2 IT stocks. For Tier-1 IT, Nomura includes Infosys (INFO IN), TCS (TCS IN), Cognizant (CTSH US), Wipro (WPRO IN) and HCL Tech. (HCLT IN).

 

Stock market performance of Tier-1 and Tier-2 IT companies over a period of time is summarised in the chart below:

 

User

Citrus Check Inns mis-selling holiday package as investment plan?

Citrus Check Inns, the new avatar of Royal Twinkle Star Club, is selling its holiday membership as an investment plan to gullible investors. Is SEBI aware about it?

 

Citrus Check Inns Ltd is the new avatar of Royal Twinkle Star Club (RTSC) that was infamous for selling holiday packages to gullible people on monthly instalment basis and promising high returns on their investment. Several agents of both these entities are found hard selling these as investment plans just to earn more commission and also recruiting new agents for marketing it.

 

One investor, Sampath P told Moneylife that, his parents invested in RTSC investment plan. Not being very financially literate they misunderstood the holiday package membership as a recurring deposit plan. They paid Rs500 every month to RTSC in the hope of getting good returns on their investment! On maturity when Sampath and his parents went to collect the amount, after standing in long queue with other investors waiting for their money, RTSC simply refused to pay up. This happened on several occasion, finally the company agreed to pay the money he invested along with some interest. He said there are many other investors who are still asking for their money.

 

Few agents of these companies operate through their own website and sell membership plans. Their sites include presentations and membership plans of both the companies as well as how one can earn income through its plans. Mrs Harapriya, an agent, in her blog titled: Big-Dad’s-Money, posted about how one can become millionaire by being part of its network and investing in its ‘investment plans’ and she typically pitches it in the money-circulation scheme way.

 

“In this world with high rate of inflation everybody wants to become rich overnight. Sometimes question comes in mind, is this possible? I know for getting prosperity in life, hard work is a must, without hard work life becomes a bed of thorns.

 

It is in your hand to make the dream comes true and to walk on the red carpet with roses under your feet. You will earn crores of rupees, dollar, pound sterling even euro. It is all in your hand.  Join citrus check-inns in April by depositing an amount of Rs15,000 or more amount in different holiday plans of the company.”

 

There are many complaints on forums like complaintboard.in regarding ‘investment plans’ offered by Royal Twinkle Star Club. One such victim, Sajid Memon, warns people about the company. He wrote; “Royal Twinkle Star Club is misleading the common public by false selling. The company is really a fake. These people take common people hard earn money, promise 13%, 14% or more interest, and then come up with many excuses and finally disappear. It happened with me. They convinced me, though my family said a no and made me invest.”

 

Both RTSC and Citrus Check Inns are owned by Mumbai-based Mirah group, which runs hotels under the name Citrus and retail food chain restaurants such as Rajdhani, Mad Over Donuts and Falafels. Citrus Check Inns website claims that it gives freedom to its members to travel over 30 Indian and 3,000 overseas destinations.

 

Earlier in February 2012, the MCA has directed a probe into books and records of Royal Twinkle Star Club, following allegations of illegal deposit collection from several investors.  “RTSC offered customers a variety of Investment plans for holidays, Investors have raised concerns as the holiday plans have an option for redemption of the subscription amount. Registrar of Companies, (Roc)Mumbai received complaints from several investors saying that they were approached by agents of RTSC, who guaranteed returns of 1.5 times in 4 years, 1.7 times the investment in 5 years, double in 6.5 years and 3 times in 9 years,” says a report from Business Standard.

 

Omprakash Gupta, chairman and managing director of Mirah group, told the newspaper that there was no probe by MCA into the company books and accounts. Goenka said, “RTSC was marketing holiday plans by subscription to the membership offers, but not collecting deposits. The points mentioned in offer documents are reward points as offered by any credit card company or airline company as bonus reward points.”

 

RTSC in its new avatar as Citrus Check Inns also offers membership plans with different names and features, which are based on the points system. On paying certain amount, the company provide points to investors, which they can redeem at various Citrus hotels. Each point is equivalent of Rs100 and people who do not want to avail holiday plan can ‘rent out’ their holidays to someone else after fulfilling all terms and conditions.

 

The company displays the holiday membership plan in equated monthly instalment (EMI) options for future holidays along with reward point scheme. However, majority of the company agents mis-sell this membership as investment and also promote it as part time and full time earning opportunity. This includes selling of membership plans and adding more people into their network like multi-level marketing (MLM) schemes and earning commissions.

 

One reader told Moneylife, “Citrus Check Inns is selling investment schemes and collecting money from people with promise of returns more than bank and post office, in the garb of timeshare. They are targeting low and middle income people, who do not have much knowledge of an investment product.”

 

One agent of the company wrote on complaintboard.in. It says, "Citrus Check Inns Ltd Refundable membership plan as well as Money Investment plan, because money is collected and pay back after different period. All plans are suitable for every customer plan period is; 5/6/7/8 and 9. It means we called Recurring Deposit / Fixed Deposit/ pension plan and money back term."

 

This comment clearly is intended on selling ‘investment plan’ and not any membership plan of holiday package.

 

What both Royal Twinkle Star Club and Citrus Check Inns are doing, under the pretext of selling membership plan, is nothing but pure collective investment scheme (CIS), as per Securities and Exchange Board of India (SEBI) definition.

 

The SEBI Act, 1992 gives the market regulator power to regulate the working of schemes which are in effect CIS and have the following characteristics:

  • Pooling of money;
  • Entrustment of money to someone such that the investors are not the ones who are   managing their own money; and
  • Sharing of returns from a specified investment
  •  

Money collecting activities of both RTSC and Citrus Check Inns, carry the features of a CIS, specified under Section 11AA of the SEBI Act read with Regulation 3 of the SEBI (CIS) Regulations.

 

Earlier, market regulator SEBI had barred several companies like Osian’s-Connoisseurs of Art Pvt Ltd , Sun-Plant Agro , Kolkata-based Rose Valley group , and Maitreya Plotters and Structures Pvt Ltd from collecting money from public under the pretext of offering ‘investment plan’ and ‘huge returns’.

 

The Rose Valley group was found running a holiday membership plan similar to what is being offered by RTSC and Citrus Check Inn.

 

Our email sent to SEBI, about the money collection scheme of RTSC and Citrus Check Inn, remained unanswered till writing the story.

User

COMMENTS

Sambhaji Jadhav

5 months ago

Sir I have been paying regular payment of citrus I have completed fifteen installments they are refusing to pay half amt what should I do

Umesh Patekar

2 years ago

According to me, company never promissed that it would help to become peoples richer over night.
Please understand their plans completely. if you agree to wait till the period as said in plans then invest. in this world every one is trying to bust the successfull companies. sebi till today havent prooved any fraud done by Citrus. Company is doing the business on it's own ways and that to without looting peoples.

taniya naik

2 years ago

Please suggest me whether I should invest in citrus check in lmt. Or not? As one of the agent from company has assured me of getting my money back in cash with the assured interest, after a 6 years of duration.

REPLY

Deepak

In Reply to taniya naik 2 years ago

You can go personally to Citrus office with that agent and meet Manager of company and get all the legal document and then take plans which I did. The best thing is that don't depend on agent because some agent are not properly train. You will get all details.

Deepak

In Reply to taniya naik 2 years ago

You can go personally to Citrus office with that agent and meet Manager of company and get all the legal document and then take plans which I did. The best thing is that don't depend on agent because some agent are not properly train. You will get all details.

Deepak

In Reply to taniya naik 2 years ago

If you are thinking Investment then Citrus Check Inn don't have Investment plan but if you're thinking Holiday plans then Citrus Check Inns have best holiday plans which gives bonus points to enjoy holidays.

taniya naik

In Reply to Deepak 2 years ago

And if unfortunately,due to some circumstances I couldn't go then will I get my money back ??

g lakshmi narayanan

2 years ago

Did you ask the sebi regarding CITRUS CHECK-INNS LTD. REGARding

Deepak

2 years ago

I have my Aunty whoes age about 55 yrs and she had investment in Royal Twinkle and got maturity twice in 12 years. Investors have to go alongwith agent/representative of company to Citrus office and clear thier confusion before investing.

Sachin Aagre

2 years ago

I read all the comments. But my view about the both companies are different. My father made investment in both companies from last 10 years. And he get the returns as per the promise of the company.

Jui Shah

2 years ago

Citrus check inns is a FRAUD company. one of their sales person came to me with lots of good good talks like whenever I want to get my money back they will sell/transfer my certificate to anyone very easily. But these are just false promises and trap to get money. When I contacted the agent he said he can do nothing to sell my plan to anyone, I have to find someone, his senior sales executive tells come personally and talk to manager and endless talks like that. When these cheats want money they come with a sweet tongue and all the service and now they want their client to go from one desk to other to get their money back. I STRONGLY SAY TO ALL DO NOT EVER INVEST IN CITRUS CHECK INNS
I request all the victims of Mumbai of this cheat citrus inn to get together and file a complaint against this fraud company

REPLY

Pawan Tiwari

In Reply to Jui Shah 2 years ago

Pls let me know if you need your money back. below are the contact details - 8898358045 - Mumbai

Sahadev Kadlag

In Reply to Jui Shah 2 years ago

see for yourself first, you wanted to withdraw the amount before the plan expire.
thats no excuse to blame organization. organization given you time period before taking the plan. i agree your agent should help you with that mess. but organization never allows this. you want to withdraw before plan expire there will be 30% deduction in ur deposited amt.

natasha

3 years ago

thk u for dis post..saved my old parents from becoming victims of dis scam

shiv

3 years ago

citrus check inns is a cheating company..
their executives promise lot of things to get the membership.
following points are promised during membership
1.they promise to give complimentary holiday but they deduct from our points
2.they promised to provide 30% discount in asscociated outlets like rajdhani in all seasons..but in rajdhani they say not in the public holiday..SBI credit card is better than this they offer 15% disc.
3.they pronise to give food in club class...in voucher they provide it is dissapearing..
4.citrus check inn properties they see only vouchers...they wont consider at any moment you are member...in fact they don't kn that is membership.
4.their executives are very horrible once u get the membership...they wont bother for you..
5. they promised to give suites room in properties but they will provide you only simple room
6. requesting all humans not go for any membership...
7.they promise you ...they will treat you like a god...but infact they wont bother..
8.nobody responsible person is there to address you any moment..

suyog parkar

3 years ago

I want the contact no. Of sampat or any such investors who was mislead by this company . Because I want to tell one of its agent that such things are happening with the people. He is challenging me that I can't find such investor of citrus inn. Please help me in this as this agent is one of our relative and I can't deny him to not to invest. I need a strong proof for that.

suyog parkar

3 years ago

I want the contact no. Of sampat or any such investors who was mislead by this company . Because I want to tell one of its agent that such things are happening with the people. He is challenging me that I can't find such investor of citrus inn. Please help me in this as this agent is one of our relative and I can't deny him to not to invest. I need a strong proof for that.

jaideep shirali

3 years ago

I wonder why people cannot see beyond their greed.For example, 150% or 1.5 times returns in 4 years is more than 30% simple annual return. Bank deposits pay around 9 %,tax free bonds pay about 11-12 % pretax, so why would anyone pay over 3 times that rate ? The higher the return, the higher the risk, that is common sense. Yet this story of greedy investors and unscrupulous fraudsters repeats itself year after year.

Deepak

3 years ago

My question is how can a middle class or lower class person paying huge amount to enjoy holiday with family??

They also has desire to go out and enjoy holiday and stay in a good hotel but some cannot afford.

Citrus Check Inn or RTSC is giving holiday points so that minimum amount can invest now for 3/5/6/8 years and then they can utilize their earned points for holidays/vacation.

Only thing is the agent of RTSC/Citrus Check Inn should not mislead people by saying investment plan, agent should say its holiday package.

bhaskar

3 years ago

Will think twice before going to Rajdhani restaurant from now on. Don't want to contribute to a group which is fleecing people.

Friends of Stray Animals protects stray cats and dogs

Appalled by the way people tend to treat stray animals, Preeti Bhatt decided to set up an organisation especially for their protection at Pune.

I hold that the more helpless a creature, the more entitled it is to protection by man from the cruelty of man,” said Mahatma Gandhi. As much as this quote is true, it is also a bitter truth that in a nation where human beings are treated disrespectfully, expecting love and compassion for animals is a tall order. This is where Friends of Stray Animals (FSA) comes in. FSA, located in Pune, was founded in 2008 by Dr Preeti Bhatt, who has been a trustee of the Society for Prevention of Cruelty to Animals (SPCA) Pune. While with SPCA, Dr Bhatt was appalled at how people treat stray animals; some horrifying cases were reported to the NGO, but lack of manpower, adequate facilities and internal conflicts prevented them from doing much about it. That was when she decided to start her own organisation that would provide the best treatment possible to these animals.

FSA started by providing a home to seven rescued cats; it now has three working branches looking after nearly 250 cats and 50 dogs. Its latest animal shelter was opened at Bhor, on the outskirts of Pune. Mitali Courtinho is another member of the organisation, who operates a separate animal shelter.  One of the greatest challenges for Dr Bhatt was to convince people about her motives and to generate support for the organisation. Although financially independent, she required the support of the veterinary doctors, animal activists, government officials as well as people in her area to set up the organisation. She says, “My family has been my greatest strength. My husband and kids never questioned my beliefs. There were times when everyone was against us, but they always stood by me with as much compassion as I have for my pets.”

Born and raised in Mumbai, Dr Bhatt completed Bachelor of Ayurvedic Medicine and Surgery (BAMS) from R.A Podar Medical College in Mumbai. She practiced medicine for several years before shifting to Pune, completed her PG in Ayurveda from Pune University. Although a medical doctor by profession, she was always empathic towards animals. She actively participated in animal welfare, and often took them to treatment to the SPCA hospital. Well known for her dedication and goodwill, Dr. Bhatt became the trustee of SPCA Pune from 2005 to 2007.

She has witnessed a number of cases of cruelty to animals in the past 11 years; this has made her resolve to protect them even stronger. Initially, she faced much harassment from her neighbours who lodged several complaints against her. One of them even threw boiling water on one of the cats that was sleeping in his parking lot. “People will always harm the weak because they cannot fight back. It is a harsh reality that some people that can go to any limit to harm animals. We want to try and eradicate such behaviour,” she says. She has now given up her medical practice and manages the NGO full time.

The animals are looked after well and given timely medical help. FSA holds regular animal adoption as well as vaccination camps. FSA takes the initiative to sterilise stray animals in other localities. Apart from FSA’s employees, there are volunteers who work from their own localities. The local veterinarians also show their support to the organisation by charging less than the regular price for vaccinations and treatment. The support is growing now, with more people willing to come forward and show kindness to animals. Regarding donations for the trust, Dr Bhatt says, “We need volunteers who are willing to adopt pets or help in their own way. Also, since there are a large number of animals, we constantly require newspapers and old clothes, so anyone willing to donate that is always welcome.” Donation cheques can be sent to the address alongside. Donations are exempt under Section 80G of Income Tax Act.

Friends of Stray Animals
2, Indumati Apartments, Lane-7,
Plot-17, Dahanukar Colony,
Kothrud, Pune 411029
www.friendsofstray.in
Email: [email protected]

User

COMMENTS

Abhijeet Devkar

16 hours ago

Dear Team,

My daughter, loves pets, she is 8 yrs old. And she is showing intense interest in caring them also and so do I. Can you please help us getting involved as an volunteer in your organization? What should be the procedure?
Please call me on below nos 9923636352, 7219252341
Regards,
Abhijeet

Prateek Taneja

1 day ago

Hello,
I lived in rangehills near khadki from from last some days onwards a cat is living near us and cat have 2 child's .the issue last day I found that Thier mother cat got killed by dogs and 2 child are not in proper condition .although we are trying to provide milk but they r not taking anything .so I need help regarding any shelter or pet care center where we can take these 2 cat child otherwise they may die .
Please help urgently
Contact no 7263025215

yaqoob khan

2 days ago

On 24 May, my manager Mr. Rajesh saw a Cat in our office Compound she was bitten by Dog and got injuries on her stomach and spine... then we contacted to Dr. Preeti, she came around 7.30 pm to take her. that time I have seen an adorable love for Animals on her face
Today I got know, Cat is doing good and Treatment is also going on. Now feeling very nice to hear this.
Thanks to Dr. Preeti, for what she is doing for Animals. God bless you Mam. And Thanks to Mr. Rajesh who became a reason behind save one life.
Across the crowd few people are too good in humanity, we need to just search them.

Konica Bhatt

3 weeks ago

Hi,

You can contact Dr Preeti Bhatt on 9370-528-746
The address and the email mentioned in the article remains unchanged.

Thanks,

Sucheta Dalal

3 weeks ago

All those who are trying to contact pet shelters. Please try and post here . The facebook page helps adoptions https://www.facebook.com/groups/worldforall/?fref=ts

Pushkar Sangalgikar

3 weeks ago

I have rescued an abandoned kitten which is very little......i have fed her and i took her to my house but my parents won't allow me to raise her.....where can i find a good shelter for her?
Please reply

Pushkar Sangalgikar

3 weeks ago

I have rescued an abandoned kitten which is very little......i have fed her and i took her to my house but my parents won't allow me to raise her.....where can i find a good shelter for her?
Please reply

Sonali Shivale

3 months ago

Hi, I've rescued a puppy and it needs shelter. Can you please suggest me a place where they'll take good care of him? Please reply soon as my family is completely against adopting a dog.

Darshil

4 months ago

Hi!! I have been looking after two stray puppies as my own. I built a cage for them, gave them vaccinations, but now my family is against keeping them with me. Can you help me with suggesting a place where I can give them, or actually where they will be taken care of properly and I can go meet them once or twice a week. They are kept nicely and are healthy too. Thank u

Monica C Duggal

4 months ago

Hi, I am visiting my parents in pune and there is a sudden increase in the number of stray cats who are very frail. Some of them are mothers in such a weak state and each night we can hear the cats crying which is very heartbreaking. I wonder if someone can help here?

renuka shahari

5 months ago

Hello mam,mere society me har saal bohot street dogs ko puppies paida hote hai,aur bhuk se mar jate hai,me pehele se hi 2 female aur 1 male dog ko roz biscuits aur chapati khilati hu.2 weeks pehele fir se 5 puppies paida huye hai,society wale pehele se hi dogs ko lekar gusse me hai,"ki yaha waha ganda kar rahe hai karke",mere kailane par bhi sab gussa hote hai..kya in new born puppies ko kuch madat mil sakti hai..thank u...

renuka shahari

5 months ago

Hello mam,mere society me har saal bohot street dogs ko puppies paida hote hai,aur bhuk se mar jate hai,me pehele se hi 2 female aur 1 male dog ko roz biscuits aur chapati khilati hu.2 weeks pehele fir se 5 puppies paida huye hai,society wale pehele se hi dogs ko lekar gusse me hai,"ki yaha waha ganda kar rahe hai karke",mere kailane par bhi sab gussa hote hai..kya in new born puppies ko kuch madat mil sakti hai..thank u...

abhilash premkumar

5 months ago

Yesterday evening around 9, I was strolling around 'coffee stop' at model colony opposite e-square, and saw a dog facially disfigured. I fed it with some eggs and roti. If possible could someone please help it get some medical attention.
It was standing alone the whole time waiting anxiously for some one to feed it. No one did(or probably someone did feed it before or after me) cause it was smelling bad. I tried to call it with food in my hand, but at first it was hesitant, probably scared of humans in general, but later it was glad I got something for it to eat.
I saw it at around 8:30 and 9 pm at the same spot, right at the 'coffee stop' shop junction. Please someone get it some medical attention.

pooja yadav

6 months ago

There is a stray dog who is crying and injured abruptly can't able to stand Need help urgently ,kindly reach out to him near cognizant trade tower ,senapati bapat road.

Varsha Bapat

7 months ago

Hello I need your help mm we reused a puppy injured and fractured leg and got him the treatment 4 months ago got him vaccinated too.he stays mostly in the parking area however now he is not manageable I can't keep him inside as I am asthmatic and get bad allergy to pet hairs.if we leave him outside he is getting attacked by other dogs ..Please help to let me know if he can be relocated to any shelter he is a lovely cute dog.

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