Ten Technologies to rock 2010

So many new technologies are ready to make a big impact this year. Some of them will be brand new, but many have been gestating and are now ready to hatch. If there is any theme here it is the mobile Web. The top ten technologies that will rock 2010, more than half of them are mobile. But those technologies are tied to advances in the overall Web as well. Check out the list of the ten technologies that will leave the biggest marks on 2010:

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    Investor Interest   Exclusive
    M&M hits 52-week high on bonus share issue

    The M&M scrip hit a 52-week high on Tuesday on speculations that the utility vehicle maker will soon be issuing bonus shares

    Mahindra & Mahindra Ltd (M&M) shares zoomed Tuesday on speculation that the company will be issuing bonus shares soon. Against its capital of Rs272.62 crore, M&M has free reserves of about Rs4,673.75 crore.

    During the day, the share made a new 52-week high of Rs1,176 and was trading at Rs1,151, up 2% from Monday’s (4th January) close. On 4 January 2009 the stock had shot up 5% after the company reported 122% rise in its domestic sales to 22,754 units in December 2009 as against 10,253 units in December 2008, an increase of 2.22 times.

    During December, M&M, the country’s largest utility vehicle maker, sold a total of 24,001 vehicles (domestic plus exports), as against 11,172 vehicles sold in December 2008.

    The company financials have been restated to incorporate the figures of M&M’s one-time subsidiary Punjab Tractors Ltd which merged with the company. Hence in the September 2009 quarter, the company posted revenues of Rs4,557.77 crore and an operating profit of Rs608.97 crore against revenues of Rs3,137.96 crore and operating profit of Rs185.32 crore in the September 2008 quarter. Based on the expected EPS of Rs69.47 and the current price, the stock is quoting at a P/E of 16.26.

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    US fund house exits ONGC over Sudan investments

    TIAA-CREF, the world's largest private pension system, has sold its holdings in ONGC, PetroChina, CNPC Hong Kong and Sinopec over their investments in war-torn Sudan

    US-based Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF), the world's largest private pension system, has exited Oil and Natural Gas Corp (ONGC) and other Chinese energy firms over their investments in war-torn Sudan. ONGC, the State-run oil refiner, however, said that its operations did not support suppressive activities anywhere in the world.

    TIAA-CREF has sold its holdings in ONGC, PetroChina, CNPC Hong Kong and Sinopec, the New York-based fund said in a statement.

    The US fund house had a tiny shareholding in ONGC and stakes sold across the four companies constituted a small slice of its $402 billion assets under management, reports PTI.

    "Our decision to sell shares in these companies culminated a three-year effort to encourage them to end their ties to Sudan or attempt to end suffering there," TIAA-CREF's chief executive Roger W Ferguson Jr said.

    ONGC, which through its overseas arm ONGC Videsh Ltd (OVL) has 25% stake in Greater Nile Oil Project, said its business directly or indirectly does not support any 'suppressive' activities or human rights violations anywhere in the world.

    "We at ONGC are very conscious that our operations do not cause any concern or (in) any way convey our support to any oppressive activity anywhere in the world," ONGC chairman and managing director RS Sharma told PTI.

    Sudan is in the midst of a civil war that broke out in 2003 when Christian groups accused Khartoum of oppressing them in favour of Muslim Arabs.

    ONGC said that it was concerned about TIAA-CREF'S move but the firm's business in Sudan would continue.

    With the objective of securing energy security for the country, the State-owned firm entered oil-rich Sudan about seven years ago, buying 25% stake in the Greater Nile Project, from which Canada's Talisman Energy exited under pressure from human rights groups.

    ONGC Videsh's entire investment was paid off in less than three years from the investment.

    Mr Sharma said ONGC's operations in Sudan were far away from the conflict regions in the south. "We are conscious that we are in no way conveying any support to any suppressive activity anywhere in the world including our own country," he said.

    The decision by TIAA-CREF would not impact OVL's decision to invest in Sudan, he said, adding that the State-run firm valued support from all investor groups and "feels concerned and pained" at withdrawal by any investor group.

    "But we do not think there is any reason for us to withdraw or reduce our operations (in Sudan). We are not the oppressors or (in) any way supporting such acts," Mr Sharma said.

    Last year in March, TIAA-CREF had announced plans to "intensify pressure on five companies (PetroChina, CNPC Hong Kong, ONGC, Sinopec, and Petronas of Malaysia) that maintain business relations with the government of Sudan to cease those relations or attempt to ease suffering and end genocide in Darfur."

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    Shadi Katyal

    1 decade ago

    Due to sudden activities of Al.Quida ,US Fund must hve decided to move on to safer places as this is a retired pension fund and need better earning

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