Anna Hazare breaks silence, says no rift in team

As fresh cracks appeared in Team Anna after the expulsion of a Muslim leader, Anna Hazare on Monday said there was no rift in the group over the "leakage" of information or yoga guru Ramdev.

In his first reaction after the expulsion of Mufti Shameem Kazmi after he was allegedly found recording the proceedings of Core Committee meeting in Noida in UP, Hazare said that there is no fallout over the issue.

"There is no rift. What rift are you talking about? A team member who leaked information yesterday, there was a problem. People in our team had asked why he did so. So he said he would not come back," he told reporters.

"If there was a rift, they would have been fighting and there is no fallout," Hazare said. Kazmi has claimed he quit the camp as the group was turning anti-Muslim.

Hazare also said there were no differences in the team over the participation of Ramdev in the anti-corruption movement. "Right now, for over a month, I will tour Maharashtra. He has our support in his campaign against black money and we have his support on Jan Lokpal. We are all fighting together on tackling corruption," he said. He said during the all-India tour, he and Ramdev will share stage wherever they meet. However, he said, there will be no joint tour.

His comments came amid growing unease in Team Anna over the "one-up manship" of Ramdev, with whom they had stitched an alliance to fight for the cause. There were discussions on Team Anna's association with Ramdev, whom a section of the activists' believe has a "credibility crisis" due to allegations levelled against the yoga guru.

At the meeting on Sunday, it was reiterated that there will not be a joint campaign with Ramdev but the two sides will extend support to each other in the fight against corruption.

Team Anna member and lawyer Prashant Bhushan said, "We have begun a movement against corruption and on that pretext, Ramdev supports us but we have no common platform or any consensus.

"We do have a consensus regarding these issues and common concerns regarding the country," he said.

4-year-old Saudi boy kills father over PlayStation

Riyadh:  An angry four-year-old Saudi boy shot and killed his father for refusing to buy him a PlayStation, Saudi media reported on Monday.

The Asharq daily, citing police in the southern Jizan area, said the child, aged four years and seven months, grabbed his father's pistol and shot him in the head.

According to the newspaper, the child had asked his father to buy him a PlayStation and the shooting took place after the man returned home without the desired object.

As he was undressing, the man put the weapon down, which the child then grabbed and fired at him from close range.

Rupee falls below 52

The rupee fell below 52 versus the dollar to a new three-month low, though traders have not yet seen clear signs of intervention.

The cross is testing resistance at 52.12, the 61.8% retracement of the December-February falls, with a convincing and sustained breach opening up the next resistance level at 52.95-00, the 76.4% retracement.

Traders have been warning USD/INR is at risk of testing its mid-December record highs of 54.30, given the slew of domestic negatives and global economic woes.

USD/INR was last trading at 52.09/10 to the dollar after hitting a new three-month low of 52.20 in opening trade. It closed at 52.14/15 on Thursday.

Attention fliers: Pay higher airport fee from May 1

Air travelers in India will have to shell out more to fly within and out of India from May 1. Airport charges are set to rise, with the Airport Economic Regulatory Authority (AERA) revising development charges for the Mumbai airport.

The regulator has allowed Mumbai International Airport Limited (MIAL) to charge a development fee for a period of 23 months. Domestic fliers will have to pay Rs 100 and international travelers Rs 600 towards airport development charges.

The charges will be in effect from May 1, 2012 till the end of April 2014.

The hike as proposed to fund a gap of Rs 876 crore. Sources told CNBC-TV18 that the regulator will consider cost escalation of Rs 12,380 crore only after audit. It will take review the rates and tenure of development levy post the cost audit.

The Mumbai airport came up for modernization in 2006, and was overhauled by the GVK Group-led consortium in partnership with the Airports Authority of India. The initial cost of the project was Rs 5800 crore, but due to time and cost over-runs, the final bill came to around Rs.9,800 crore. 

GVK, the operator of the airport is also facing problems rehabilitating slum-dwellers displaced for the project.  In December last year, it had sought two plots for rehabilitating around 80,000 project-affected people (PAP). But Maharashtra Chief Minister Prithviraj Chavan turned down the demand for the plots, one at Santa Cruz belonging to the Mumbai University and the other at Kanjur Marg ear-marked for a dumping ground.

Air India seeks to raise $1bn in overseas borrowing

Debt-laden national carrier Air India has invited bids from banks and financial institutions to raise up to USD 1 billion via external commercial borrowings, according to an offer letter seen by Reuters.

Funds will be used for working capital, as per the document, with interested arrangers asked to submit bids by May 4.

The firm is looking to raise one-year funds at either fixed- or floating rates, according to the document.

Air India is due to receive an equity infusion of Rs 67,500 crore in the current fiscal year and will spin-off two of its units as part of a financial restructuring plan approved by the federal cabinet.

Mumbai: 2 dead, 15 injured after falling from local train

The turbulence in local trains in Mumbai has taken a toll. Two people died after they fell from a local train between Nahur and Bhandup stations (central line) during heavy rush. Fifteen people were injured.

The Nahur station is just ahead of the Mulund station. Central Railway chief PRO Vidyadhar Malegaonkar said the primary reason of the incident was overcrowding.

Union Railway Minister Mukul Roy has announced compensation for the victims' families. "Railways announces compensation of Rs 2 lakh for the families of the two who died in the accident. The ministry is working overtime to normalise the situation by this evening. 8% of the services have been normalised. Senior level railway officials inspected the technical snag in Mumbai, a committee has been formed to look into the technical snags."

Fifteen per cent of the trains on the central line were not yet running. The Central Railway announced that it has restored over 85% of the services on Thursday.

Alternate arrangements were made on Wednesday like allowing passengers in express trains, allowing them to use parts of Western line.

Millions of commuters and students in the city faced a harrowing time on Wednesday as local trains were running late by around 40 minutes following a fire in a signal cabin on the Central Railway (CR).

Around 12.15 am early Wednesday, fire gutted the main signal cabin at Kurla station and sent the entire electric and signal cabling network on the blink.

The fire was brought under control in a short time and there were no casualties reported.

Mumbai's suburban train services, comprising Western Railway, Central Railway and Harbour lines, which ferry nearly eight million people to and from their homes and offices in Mumbai, Thane and Raigad, are the lifeline of the country's commercial capital.

MT Educare hits upper circuit, rises 13%

Shares of education support and coaching services provider MT Educare hit upper circuit on the listing day, shooting up 12.94% to Rs 90.35 as against issue price of Rs 80.

Traded volume on both exchanges was more than 18 lakh shares. The equilibrium price for a share has been decided at Rs 86.05; accordingly the upper circuit stands at Rs 90.35 and lower circuit at Rs 81.75.

The public issue had opened for subscription during March 27-29, through which the company raised Rs 99-crore. The issue had comprised of fresh issue of Rs 35 crore and an offer for sale of 80 lakh equity shares by Helix Investments Company.

Big quake strikes off coast of Indonesia

A massive earthquake struck off the coast of the Indonesian island of Sumatra on Wednesday, triggering a tsunami alert for the Indian Ocean.

The quake struck about 430 kilometers from Banda Aceh, the capital of Indonesia's Aceh province, and had a magnitude of 8.7, the U.S. Geological Survey said. It took place at a depth of 33 kilometers.

The Pacific Tsunami Warning Center said it had issued a tsunami watch for the entire Indian Ocean, and the Indonesian Meteorology, Climatology and Geophysics Agency said it had put up a tsunami warning.

The power has gone out in Banda Aceh and residents are moving to higher ground, said Sutopo Purwo Nugroho, a spokesman for the Indonesian National Disaster Management Agency.The extent of the damage is still being assessed.

In 2004, a 9.1-magnitude underwater earthquake struck off the coast of Sumatra, triggering a tsunami that killed more than 200,000 people in 14 countries. Aceh was one of the worse affected areas.The tsunami, which washed away entire communities, caused nearly $10 billion in damage and more casualties than any other tsunami in history, according to the United Nations.

Indonesia is on the so-called Ring of Fire, an arc of fault lines circling the Pacific Basin that is prone to frequent earthquakes and volcanic eruptions.

After Indonesia earthquake, tsunami alert and tremors in India

A tsunami of between three to six metres is expected to hit the Nicobar Islands after an earthquake, measuring 8.7 on the Richter scale hit Indonesia.  A tsunami alert -which is less serious than a warning  - has also been issued for the Eastern coast of India, the Andaman Islands, Andhra Pradesh and Tamil Nadu. 

The Pacific Tsunami Warning Center said an Indian Ocean wide tsunami alert was in effect.
The quake was felt in Singapore, Thailand and India. High-rise apartments and offices on Malaysia's west coast shook for at least a minute.

In India, tremors were reported  in Mumbai, Kolkata, and the southern part of Chennai.  The tremors lasted for a few seconds.  In Bhubaneshwar, people were seen running out of their homes and offices.  No damage has been reported so far.

NDTV viewer AG Kalidass emailed from Bangalore to say, "We were feeling our building shaking."  Another viewer Shyam Agarwal writes, "I am from Kolkata. Just now a few minutes back heavy stroke of earthquake has been observed here."

The U.S. Geological Survey said the powerful quake was centered 20 miles (33 kilometers) beneath the ocean floor around 308 miles (495 kilometers) from Aceh's provincial capital.
Indonesia straddles a series of fault lines that makes the vast island nation prone to volcanic and seismic activity.

A giant 9.1-magnitude quake off the country on Dec. 26, 2004, triggered a tsunami in the Indian Ocean that killed 230,000 people, nearly three quarter of them in Aceh

Earthquake in Indonesia, Tsunami warning in 28 countries

An earthquake of 8.9 on Richter scale has struck Indonesia. Tremors have been felt in Chennai, Bangalore, Pune and Kolkata.

Indonesia issued a tsunami warning after the huge magnitude earthquake off its westernmost province Aceh, leading panicked locals to scramble out of their houses to seek refuge.

The Pacific Tsunami Warning Center said an Indian Ocean wide tsunami alert was in effect, after a quake that the US Geological Survey said was 308 miles southwest of the province's capital Banda Aceh.

The quake was felt as far away as Singapore, Thailand and India.

The province was devastated by a 2004 tsunami that left 170,000 dead or missing, and that in total killed about 230,000 people in 13 Indian Ocean nations.

13 IPOs called off in 2012

13 IPOs has already called off in 2012, says Jagannadham Thunuguntla, Strategist & Head of Research, SMC Global Securities Limited.

1. The year 2012 has already seen call-off of 12 IPOs. The probable amount that these 13 IPOs were planning to raise was to an aggregate of Rs 5,603 crore

2. The list of the 13 companies who have called-off their IPOs during 2012 include: Micromax, Embassy Property, Joyalukkas, Lokmat Media, VRL Logistics, Aravali Infrapower, Semantic Space Technologies, etc

3. This is in addition to the call-off of 29 companies during 2011 calendar year. The probable amount that these 29 companies were planning to raise was to an aggregate of Rs 32,400 crore.

4. So, starting 1st January 2011 till date, about 42 IPOs were called off. The total amount they were expected to raise was about Rs 38,001 crore.

5. All these 42 companies had valid SEBI approval in hand for their IPOs. Even then, they couldn't open their IPOs within the validity period of one year from the date of SEBI approval.

6. This surely will impact the Indian corporates ability in fund raising to finance their expansion projects resulting in slow down in capacity building and job creation.

7. Further, the government's disinvestment program which was supposed to bring public issues of several blue-chip PSUs couldn't take off. The recent lukewarm response to ONGC auction can also impact the confidence of the public issue market.

8. The secondary market and global liquidity hold key for the future of IPO market.

Kent Resorts sells 11 lakh shares of Karur Vysya Bank

On April 03, 2012 Kent Resorts Private Limited sold 1,100,000 shares of Karur Vysya Bank at Rs 382 on the NSE. However, Golden Oak (Mauritius) Limited bought 1,100,500 shares at Rs 382 on the NSE. Yesterday the share closed at Rs 378.75

The company touched its 52-week high Rs 479.15 and 52-week low Rs 322.30 on 15 Jul, 2011 and 28 Dec, 2011, respectively. Currently, it is trading -20.78% below its 52-week high and 17.78% above its 52-week low. Market capitalisation stands at Rs 4,068.57 crore.

The company's trailing 12-month (TTM) EPS was at Rs 35.54 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 10.68. The latest book value of the company is Rs 198.47 per share. At current value, the price-to-book value of the company was 1.91. The dividend yield of the company was 3.16%.

BHEL eastern region turnover rises 24% in FY12

Turnover of eastern region of heavy engineering public-sector unit BHEL increased 24% at Rs 2,700 crore during the financial year 2011-12, a company official said. "The eastern region of BHEL achieved a turnover of Rs 2,700 crore in 2011-12 against Rs 2,174 crore in the previous fiscal", executive director of BHEL, eastern region, Rajiv Kumar said.

Gross profit from the region increased 29% in 2011-12 at Rs 157.87 crore compared to Rs 122.15 crore in the previous fiscal, he told reporters here yesterday. In the next financial year, the targeted turnover is Rs 3,100 crore and gross profit is pegged at Rs 374 crore, Kumar said. He added in the eastern region, 17,000 MW of capacity addition is under execution in various stages.

During 2011-12, BHEL eastern region had added 2,838 MW of capacity addition, the highest ever, he said. The cumulative order position in the eastern region of BHEL in 2012-13 and beyond stood at Rs 7,153 crore. BHEL eastern region was involved in setting up power plants abroad, he said.

Reports on troop movement 'absolutely stupid'

Army Chief Gen VK Singh today dismissed as "absolutely stupid" a report that the Indian government panicked for several hours in the face of unexplained troop movements near Delhi in January.

"This is absolutely stupid," Singh said when asked to comment on the report. The report in Indian Express that said the government was "spooked" on the night of January 16-17, because of the movement of a mechanised infantry battallion from Haryana's Hisar and a sizeable section of 50 Para Brigade created a storm in the government.

In New Delhi yesterday, Prime Minister Manmohan Singh and the defence establishment dismissed as "alarmist" and "absolutely baseless". The Army Chief is in Nepal to attend the three-day Regional Seminar on Natural Disaster Management and Humanitarian Assistance.