Buy Voltas
Buy Voltas at Current with target 150.00
Read more...Wednesday, June 3, 2009
Markets may be correct
Markets may be correct on this 15000 level, Market will consolidate between 12500-16500.
Read more...Thursday, May 14, 2009
Today Tips - 15-05-09
Salil Sharma (Kapoor & Sharma Company)
YES Bank Ltd. Buy, stop loss Rs 75 May 14, 09 108
Nishant Jain (Tradeswift)
Essar Oil Ltd. Sell, stop loss Rs 155 May 14, 09 105
Salil Sharma (Kapoor & Sharma Company)
Zee Entertainment Enterprises Ltd. Buy, stop loss Rs 127 May 14, 09 152
Sudarshan Sukhani
Reliance Capital Ltd. Buy, stop loss Rs 560 May 14, 09 580
Ashwani Gujral
Ranbaxy Laboratories Ltd. Buy, stop loss Rs 180 May 14, 09 198
Saturday, May 2, 2009
New to Mutual Funds? Tips for a beginner
First time investors in Mutual Funds act in the face of imperfect information and often get overwhelmed by uncertainties characterizing the investment situation. But there�s more to Mutual Fund investing than market timing.
First things first..
The first thing an aspiring unit holder must do is to establish what type of portfolio he wants to build. In other words, to decide the right asset allocation. Asset allocation is a method that determines how you invest your money in different investments with the proper mix of various asset classes. Remember, the type or class of security you own i.e. equity, debt or money market, is much more important than the particular security itself.
The popular thumb rule for asset allocation says that whatever the investor�s age, he should keep that percentage of his portfolio in debt instruments. For example, if an investor is 25, he should have 25% of his investments in debt instruments and the rest in equity. However, in reality, different circumstances and financial position for each individual may require different allocation. Portfolio variable is another factor that one needs to understand to practice asset allocation. These are age, occupation, number of dependants in the family. Usually the younger you are, the more riskier the investments you can hold for getting superior returns.
How to pick the right fund/s?
Next, focus on selecting the right fund/s. The key is to select the fund/s based on their investment philosophy and consistency in terms of returns. To ensure you are selecting the right type of funds that are appropriate for your needs, consider following:
- Determine what your financial goals are.
- Are you investing for retirement? A child�s education? Or for current income?
- Consider your time frame. Do you need money in three months time or three years? The longer your time horizon, the more risk you may be able to take.
- How do you feel about risk? Are you in a position to tolerate the ups and downs of the stock market for the possibility of higher returns? It is necessary to know your own risk tolerance. It can be a guide for choosing the right schemes. Remember, regardless of the potential returns, if you are not comfortable with a particular asset class, you should consider other options.
Remember, all these factors will have a direct impact on the fund you choose and the return that you can expect to get. If you are a long-term investor with some appetite for risk and are looking for returns to beat inflation, equity funds are your best bet. MFs offer a variety of equity and equity-oriented schemes (See table �Fund Candy�). For a beginner, it makes sense to begin with a diversified fund and gradually have some exposure to sector and specialty funds.
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ULIPs get more transparent with IRDA move
WEALTH received many queries from readers enquiring about Unit Linked Insurance Plans (ULIPs). The common thing among these readers was that they were tricked into buying ULIPs. They were told they could earn returns that are much better than any other investment, and the premium could be paid only for three years if they wanted to. This is most common pitch for selling ULIPs. And they are classic examples of mis-selling.
If you have been a victim too, here is some relief for you. In a move to curb such malpractices of agents, Insurance Regulatory and Development Authority (IRDA) has taken some initiative. In a circular released, the regulatory body has said that the premium paid in the second year should at least be 75 per cent of the premium paid in the first year. In other words, let’s say if you have paid a premium of Rs 10,000 in the first year, the premium paid in the second year should at least be Rs 7,500 in the following year.
Why this move?
It all began in the year 2007 when IRDA had issued a norm that allowed insurers to reduce the premium in ULIPs, provided a certain amount is maintained throughout the policy term. But this norm seemed to be misused by insurance agents to sell ULIPs like single premium plans. This norm when introduced was done with the intention of bringing in more flexibility. But insurance agents misused this clause and hence IRDA has now asked them to conform to the new norm beginning April 1, 2009.
How will it work?
Agents receive commission as high as 25-30 per cent in the first year of a ULIP policy compared to single premium policies that give only 2 per cent commission. Hence, insurance agents push for regular policies and pay little attention to renewal of these policies. They concentrate more on selling new ULIP products that will get them more commission.
The reason why IRDA took this move was because of the fall in renewal premiums. Not just this, the regulator has now asked insurers to pay back the commission back to policyholders if the premium is less than 75 percent of the first year’s premium.
Example
If you pay Rs 10,000 premium in the first year, the agent will get Rs 3,000 as commission in the first year (considering the commission is 30 per cent). You reduce your premium in the second year to Rs 7,000. According to the new norm, the insurer will have to treat the difference in the first and second year premium, ie, Rs 3000 (Rs 10,000 to Rs 7,000) as single premium plan. This is because Rs 7000 is less than 75 per cent of Rs 10,000 paid in the first year. So, the insurance plan will automatically be treated as a single premium plan and the agent will be given commission that is applicable on single premium plans, ie, 2 percent.
So what happens to the 35 per cent commission paid in the first year? The insurance company will minus the charges of regular premium plan from single premium plan, ie, 35-2 percent. So, the agent will be given only 2 per cent commission and the remaining, ie, 33 per cent will be deposited back into your account.
CEO of apnainsurance.com, Harsh Roongta says, "IRDA has taken an excellent step to curb agents from mi-selling regular ULIP as a single premium plan." However, this will be applicable on new potential policyholders and not on existing ones.
Disclaimer: While we have made efforts to ensure the accuracy of our content (consisting of articles and information), neither this website nor the author shall be held responsible for any losses/ incidents suffered by people accessing, using or is supplied with the content.
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How will it work?
Agents receive commission as high as 25-30 per cent in the first year of a ULIP policy compared to single premium policies that give only 2 per cent commission. Hence, insurance agents push for regular policies and pay little attention to renewal of these policies. They concentrate more on selling new ULIP products that will get them more commission.
The reason why IRDA took this move was because of the fall in renewal premiums. Not just this, the regulator has now asked insurers to pay back the commission back to policyholders if the premium is less than 75 percent of the first year’s premium.
Example
If you pay Rs 10,000 premium in the first year, the agent will get Rs 3,000 as commission in the first year (considering the commission is 30 per cent). You reduce your premium in the second year to Rs 7,000. According to the new norm, the insurer will have to treat the difference in the first and second year premium, ie, Rs 3000 (Rs 10,000 to Rs 7,000) as single premium plan. This is because Rs 7000 is less than 75 per cent of Rs 10,000 paid in the first year. So, the insurance plan will automatically be treated as a single premium plan and the agent will be given commission that is applicable on single premium plans, ie, 2 percent.
So what happens to the 35 per cent commission paid in the first year? The insurance company will minus the charges of regular premium plan from single premium plan, ie, 35-2 percent. So, the agent will be given only 2 per cent commission and the remaining, ie, 33 per cent will be deposited back into your account.
CEO of apnainsurance.com, Harsh Roongta says, "IRDA has taken an excellent step to curb agents from mi-selling regular ULIP as a single premium plan." However, this will be applicable on new potential policyholders and not on existing ones.
Disclaimer: While we have made efforts to ensure the accuracy of our content (consisting of articles and information), neither this website nor the author shall be held responsible for any losses/ incidents suffered by people accessing, using or is supplied with the content.
Thursday, April 2, 2009
Closing Bell
3:30 pm: The Nifty ended the day at provisional 3214.15, higher by 153.8 points or 5.03 per cent from Wednesday's close.
The 50-share index of the NSE recorded a high of 3228.75 during the day from the open of 3061.05.
2:39 pm: Piramal Healthcare Ltd, as part of consolidation of global manufacturing assets, has decided to discontinue operations at its manufacturing facility in Huddersfield, UK. This is an Intermediate/API site catering to the pharma solutions (Custom Manufacturing) business and is one of the manufacturing sites of Piramal Healthcare (UK) Ltd., the company's wholly-owned subsidiary in the UK. In 2005, Piramal Healthcare acquired Avecia Pharmaceuticals which was then renamed as NPIL Pharmaceuticals (UK) Ltd. (now known as Piramal Healthcare (UK) Ltd.). The company had manufacturing facilities in Huddersfield. Grangemouth (Scotland) and Toronto (Canada). The remaining two sites at Grangemouth and Toronto will continue to operate and drive growth for the Pharma Solutions business. The closure will result in a one time cash cost of around Rs. 70 crores which will be incurred in the year ended March 31, 2009. As a result of this closure and increased acceptance of India as a custom manufacturing destination, profitability of the Pharma Solutions business is expected to increase significantly.
Shares of Piramal Healthcare were up 4.4 per cent at Rs 202 on the NSE, after the announcement.
2:15 pm: Steel Strips Wheels Ltd produced 6.04 lakh Wheel Rims during the month of March,as against 5.65 lakh Wheel Rims same month in 2008, recording a growth of 7%. The company has also achieved a sale of 5.83 lakh wheel rims during March 2009 against 5.53 lakhs year ago, recording a growth of 5.5%.
1:45 pm: Larsen & Toubro Ltd has bagged Rs 1344 crore refinery order from MRPL, Mangalore.
12:15 pm: Bharat Seats Ltd's board of directors will meet on April 13, consider and approve the audited financial results for the year ended March 31, 2009, and to recommend the dividend, if any.
11:45 am: Jindal Saw Ltd has informed that 26,00,000 warrants were allotted to Anbeeco Investments Ltd. on preferential basis on May 22, 2008. Each of these warrants was convertible into one equity share of Rs.10 each at a price not less than Rs.819 up to March 31, 2009 at the option of the allotee. As the allottee has not exercised the option to convert the above warrants into equity shares, the amount of advance at 10% of per warrant stands forfeited .
11:30 am: Inox Leisure Ltd has informed that it has discontinued the management of a multiplex cinema theatre situated at Entertainment Paradise, Jaipur, Rajasthan from April 1, 2009.
11:00 am: Hindustan Oil Exploration Co. Ltd has been informed by operator ONGC that the Directorate General of Hydrocarbons has approved the development plan of Gulf 'A' discovery in the Block CB-OS-1. HOEC has 38.07% non-operating participating interest in the said development area. Shares of the company were higher by 4.87 per cent at Rs 71 on the NSE, on the back of this news.
10:40 am: Zydus Cadila has announced tile filing of the IND application for ZYT1 - a novel lipid lowering molecule with the UF Food & Drug Administration. Designed and developed at the Zydus Research Centre, ZYTI is a novel, anti-dyslipidemic agent which may provide an alternative to statins or be an add-on to statin therapy. Dyslipidemic is a clinical condition characterized by an elevation ofcholesterol and/or triglycerides in the bloodstream. Over 80% of patients with coronary heart disease, even those curicntly on medication, the targeted levels thr cholesterol.
Shares of the company were up 0.35 per cent at Rs 275.10 on NSE. The stock charted a high of Rs 280.
10:33 am: Maruti Suzuki India Ltd sold 792,167 vehicles in 2008-09. This marks a growth of 3.6 per cent over last year. The annual sales in 2008-09 is the highest ever by the company, in its 25 year history. The previous highest annual sales were 764,842 units in 2008-09. The company’s sales included exports of 70,023 units in 2008-09, up by 32.1 per cent over sales of 53,024 recorded in 2007-08. The 2008-09 export numbers, the highest ever by the company was led by A-star, the fuel efficient compact car launched in Europe during the year. The export tally includes around 19,000 units of A-star exported to Europe including United Kingdom, France, Germany, Italy, Netherlands, Denmark and Switzerland. 2008-09 marked Maruti Suzuki’s Silver Jubilee year in India.
Shares of the auto biggy were up 4.3 per cent at Rs 826.45 on NSE, after touching a high of Rs 829.55 earlier.
10:27 am: Larsen & Toubro Ltd has bagged two orders worth Rs 1,143 crore from Tata Steel. This comprises Rs 689 crore order for turnkey construction of Dry Crushing & Material Preparation Plant at Joda Mines and Engine-on-Load Scheme at Noamundi Mines and another Rs 454 crore order for Iron Ore & Pellet Handling System at Jamshedpur. Shares of the engineering and construction major were up over 6 per cent at Rs 713.35 on NSE, following this announcement.
10:23 am: Uco Bank has seen capital infusion of Rs. 450 crore from the Government of India. The bank board has decided to allot 45,000 Perpetual Non-Cumulative Preference Shares of Rs. 100,000 each to account for the amount. The relative fund of Rs. 450 crore has been received on March 31, 2009 and the arrangements are being made to credit the amount to the account of the President of India in the D-Mat Account with CDSL. The PNCPs are issued at annual floating coupon to be benchmarked to Repo Rate with a spread of 100 basis points to be reset annually based on prevailing Repo Rate on the relevant date. The PNCPs are not listed and are non-tradable/ non-transferable. On NSE, Uco Bank shares were up 5.74 per cent at Rs 27.65.
10:00 am: There were no losers in the 50-share NSE index.
9:59 am: The early gainers in the Nifty included ICICI Bank (6.5%), Reliance Infrastructure (6.25%), Reliance Capital (6.14%), Suzlon Energy (5.69%), Larsen & Toubro, HDFC, Axis Bank, Punjab National Bank, Tata Consultancy Services, State Bank of India.
9:58 am: The Indian stock market extended the rally Thursday, riding the gains across Asia. The Nifty opened the day at 3061.05 against the previous close of 3060.35. The broad NSE index rallied further to 3171.35, before settling at 3170.85, higher by 110.5 points or 3.61 per cent. The Indian markets will remain shut Friday for Ram Navmi celebrations.
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The 50-share index of the NSE recorded a high of 3228.75 during the day from the open of 3061.05.
2:39 pm: Piramal Healthcare Ltd, as part of consolidation of global manufacturing assets, has decided to discontinue operations at its manufacturing facility in Huddersfield, UK. This is an Intermediate/API site catering to the pharma solutions (Custom Manufacturing) business and is one of the manufacturing sites of Piramal Healthcare (UK) Ltd., the company's wholly-owned subsidiary in the UK. In 2005, Piramal Healthcare acquired Avecia Pharmaceuticals which was then renamed as NPIL Pharmaceuticals (UK) Ltd. (now known as Piramal Healthcare (UK) Ltd.). The company had manufacturing facilities in Huddersfield. Grangemouth (Scotland) and Toronto (Canada). The remaining two sites at Grangemouth and Toronto will continue to operate and drive growth for the Pharma Solutions business. The closure will result in a one time cash cost of around Rs. 70 crores which will be incurred in the year ended March 31, 2009. As a result of this closure and increased acceptance of India as a custom manufacturing destination, profitability of the Pharma Solutions business is expected to increase significantly.
Shares of Piramal Healthcare were up 4.4 per cent at Rs 202 on the NSE, after the announcement.
2:15 pm: Steel Strips Wheels Ltd produced 6.04 lakh Wheel Rims during the month of March,as against 5.65 lakh Wheel Rims same month in 2008, recording a growth of 7%. The company has also achieved a sale of 5.83 lakh wheel rims during March 2009 against 5.53 lakhs year ago, recording a growth of 5.5%.
1:45 pm: Larsen & Toubro Ltd has bagged Rs 1344 crore refinery order from MRPL, Mangalore.
12:15 pm: Bharat Seats Ltd's board of directors will meet on April 13, consider and approve the audited financial results for the year ended March 31, 2009, and to recommend the dividend, if any.
11:45 am: Jindal Saw Ltd has informed that 26,00,000 warrants were allotted to Anbeeco Investments Ltd. on preferential basis on May 22, 2008. Each of these warrants was convertible into one equity share of Rs.10 each at a price not less than Rs.819 up to March 31, 2009 at the option of the allotee. As the allottee has not exercised the option to convert the above warrants into equity shares, the amount of advance at 10% of per warrant stands forfeited .
11:30 am: Inox Leisure Ltd has informed that it has discontinued the management of a multiplex cinema theatre situated at Entertainment Paradise, Jaipur, Rajasthan from April 1, 2009.
11:00 am: Hindustan Oil Exploration Co. Ltd has been informed by operator ONGC that the Directorate General of Hydrocarbons has approved the development plan of Gulf 'A' discovery in the Block CB-OS-1. HOEC has 38.07% non-operating participating interest in the said development area. Shares of the company were higher by 4.87 per cent at Rs 71 on the NSE, on the back of this news.
10:40 am: Zydus Cadila has announced tile filing of the IND application for ZYT1 - a novel lipid lowering molecule with the UF Food & Drug Administration. Designed and developed at the Zydus Research Centre, ZYTI is a novel, anti-dyslipidemic agent which may provide an alternative to statins or be an add-on to statin therapy. Dyslipidemic is a clinical condition characterized by an elevation ofcholesterol and/or triglycerides in the bloodstream. Over 80% of patients with coronary heart disease, even those curicntly on medication, the targeted levels thr cholesterol.
Shares of the company were up 0.35 per cent at Rs 275.10 on NSE. The stock charted a high of Rs 280.
10:33 am: Maruti Suzuki India Ltd sold 792,167 vehicles in 2008-09. This marks a growth of 3.6 per cent over last year. The annual sales in 2008-09 is the highest ever by the company, in its 25 year history. The previous highest annual sales were 764,842 units in 2008-09. The company’s sales included exports of 70,023 units in 2008-09, up by 32.1 per cent over sales of 53,024 recorded in 2007-08. The 2008-09 export numbers, the highest ever by the company was led by A-star, the fuel efficient compact car launched in Europe during the year. The export tally includes around 19,000 units of A-star exported to Europe including United Kingdom, France, Germany, Italy, Netherlands, Denmark and Switzerland. 2008-09 marked Maruti Suzuki’s Silver Jubilee year in India.
Shares of the auto biggy were up 4.3 per cent at Rs 826.45 on NSE, after touching a high of Rs 829.55 earlier.
10:27 am: Larsen & Toubro Ltd has bagged two orders worth Rs 1,143 crore from Tata Steel. This comprises Rs 689 crore order for turnkey construction of Dry Crushing & Material Preparation Plant at Joda Mines and Engine-on-Load Scheme at Noamundi Mines and another Rs 454 crore order for Iron Ore & Pellet Handling System at Jamshedpur. Shares of the engineering and construction major were up over 6 per cent at Rs 713.35 on NSE, following this announcement.
10:23 am: Uco Bank has seen capital infusion of Rs. 450 crore from the Government of India. The bank board has decided to allot 45,000 Perpetual Non-Cumulative Preference Shares of Rs. 100,000 each to account for the amount. The relative fund of Rs. 450 crore has been received on March 31, 2009 and the arrangements are being made to credit the amount to the account of the President of India in the D-Mat Account with CDSL. The PNCPs are issued at annual floating coupon to be benchmarked to Repo Rate with a spread of 100 basis points to be reset annually based on prevailing Repo Rate on the relevant date. The PNCPs are not listed and are non-tradable/ non-transferable. On NSE, Uco Bank shares were up 5.74 per cent at Rs 27.65.
10:00 am: There were no losers in the 50-share NSE index.
9:59 am: The early gainers in the Nifty included ICICI Bank (6.5%), Reliance Infrastructure (6.25%), Reliance Capital (6.14%), Suzlon Energy (5.69%), Larsen & Toubro, HDFC, Axis Bank, Punjab National Bank, Tata Consultancy Services, State Bank of India.
9:58 am: The Indian stock market extended the rally Thursday, riding the gains across Asia. The Nifty opened the day at 3061.05 against the previous close of 3060.35. The broad NSE index rallied further to 3171.35, before settling at 3170.85, higher by 110.5 points or 3.61 per cent. The Indian markets will remain shut Friday for Ram Navmi celebrations.
Goldman Sachs upgrades outlook for Indian stocks after 15 months
NEW DELHI: Global financial services provider Goldman Sachs has upgraded its outlook on Indian stocks, saying the country's equity market would
be in line with the overall Asian landscape as against its previous projection of under-performance.
"We are raising our long-standing underweight stance on India to market weight, because we believe that India's investment merits relative to other regional alternatives have improved," Goldman Sachs said in a latest report.
The global financial services firm has raised India's stock rating to 'market weight', the first upgrade, since it was rated 'underweight' in January 2008.
It further said that the key reasons for taking a more constructive view revolve around domestic demand, corporate profitability and stock valuation.
The report said that the financing constraints that hurt Indian corporate profitability during the global credit crisis in the fourth quarter of 2008 have eased and so the country's relative economic resilience has improved.
"While India's corporate profit growth was hit in 4Q08 (fourth quarter of 2008) and will remain under pressure in early 2009, we expect relatively better profitability and EPS (earning per share) growth than in most other markets," it added.
Dell sees slowdown in IT spending by large enterprises
NEW DELHI: Dell India is witnessing slowdown in IT hardware spends by large enterprises, its biggest customer base, and is relying on segments
such as public sector, small and medium businesses (SMBs) and individual consumers to shore up market share in India, its country head said on Thursday.
"The market is slowing down but we keep looking for areas where we can grow our market share in these times," Dell India country general manager Sameer Garde said.
In the public sector, Dell India is particularly eyeing education and healthcare segments. It has participated in some ICT programmes in states such as Andhra Pradesh, Tamil Nadu, Maharashtra and Rajasthan. i Large enterprises are looking to reduce ther maintenance costs within their reduced IT budgets, while SMBs are an untapped market, Mr Garde added. Of the 8 million SMBs in India, only one million spend on IT, he said.
Dell recently restructured its operations to focus on four business segments - large enterprises, public sector, SMBs and consumer. "We have changed our go-to-market strategy in the last 6-8 months and moved from a purely direct selling model to a mix of direct and retail," Mr Garde said. He refused to comment on whether the Indian arm is on track to achieve its target of $1 billion in revenues this year.
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such as public sector, small and medium businesses (SMBs) and individual consumers to shore up market share in India, its country head said on Thursday.
"The market is slowing down but we keep looking for areas where we can grow our market share in these times," Dell India country general manager Sameer Garde said.
In the public sector, Dell India is particularly eyeing education and healthcare segments. It has participated in some ICT programmes in states such as Andhra Pradesh, Tamil Nadu, Maharashtra and Rajasthan. i Large enterprises are looking to reduce ther maintenance costs within their reduced IT budgets, while SMBs are an untapped market, Mr Garde added. Of the 8 million SMBs in India, only one million spend on IT, he said.
Dell recently restructured its operations to focus on four business segments - large enterprises, public sector, SMBs and consumer. "We have changed our go-to-market strategy in the last 6-8 months and moved from a purely direct selling model to a mix of direct and retail," Mr Garde said. He refused to comment on whether the Indian arm is on track to achieve its target of $1 billion in revenues this year.
Wednesday, February 25, 2009
TV broadcasters can’t run cable, DTH: Regulator
New Delhi, Feb. 25 The Telecom Regulatory Authority of India (TRAI) has recommended that broadcasters should not be allowed to own more than 20 per cent in TV distribution platforms such as cable and DTH.
It also suggests that the broadcaster should have no control in the distribution and vice versa. The recommendations, to ensure plurality and diversity of views, will be examined by the Ministry of Information and Broadcasting. If approved, companies such as the Sun Group, the Essel Group, and Hathway will get three years to restructure their businesses.
Although no instance of “market failure” has been found, TRAI says it would rather “put timely safeguards than look for corrective measures which become difficult for the industry to align in future”.
“The sweeping nature of such recommendations is archaic and designed to perpetuate the current positions of certain players,” says Mr Uday Shankar, CEO, Star India, whose company owns about 23 per cent stake in the cable operator Hathway.
Mr Kalanidhi Maran, Chairman and MD of Sun Network, and his family own 80 per cent of Sun Direct. The Essel Group, engaged in broadcasting, DTH, cable and HITS will also have to ensure that common promoters of its cable business WWIL and Zee Entertainment do not own more than 20 per cent.
TRAI’s recommendations will apply to any “individual, a group of persons, a public or private body corporate, a firm, a trust, or any other organisation or body and also to include ‘inter-connected undertakings’ as defined in the Monopolies and Restrictive Trade Practices Act.”
Mr A. Mohan, Essel Group’s Executive Vice-President, says that the licensing requirement in DTH ensured that it would be compliant, if and when the recommendations are accepted.
Zee Entertainment has no stake in WWIL, and owns less than 20 per cent in Dish TV, says Mr Mohan. “The Government has to still bring in licensing in the cable sector, only then can you have compliance,” he adds.
He also points out that no restrictions were imposed on telecom players such as Bharti and Reliance ADAG who have launched DTH services and could aggregate content for their IPTV platforms. TRAI says it would review the matter of cross ownerships of telecom and media businesses in two years.
Reliance Entertainment is reported to have applied for more than 20 licences for channels, with plans to launch three initially. However, a company spokesperson points out that its DTH business Big TV was owned by the group’s Reliance Communications.
While the regulator points out that certain developed countries have cross media ownership, some of which have been recently reviewed and retained, the industry has opposed the move. “India is such a diverse country; I don’t think it is possible to build cross media empires in a large scale. The only thing that needs to be regulated is concentration in a geography,” said Star’s Mr Shankar.
Star owns 20 per cent in the DTH business Tata Sky.
TRAI says, “It was clarified by the Ministry that looking at the increasing trend of the print media entering into broadcasting sector, the issue needs to be examined in its entirety”.
Source: The Hindu Business Line
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