The State government will implement the Hogenakkal drinking water supply scheme at any cost and it will not be cowed down by threats of some leaders, Chief Minister M. Karunanidhi said here on Sunday.
Inaugurating a flyover linking North Usman Road and Mahalingapuram here, the Chief Minister said the scheme had been cleared by the Centre.
The Karnataka government had also given its clearance.
At this stage, some politicians in Karnataka were trying to “sabotage” the scheme just to gain political mileage. Their attempts would not succeed, he added.
Appealing to the Centre to intervene in the issue, Mr. Karunanidhi said the move by some Karnataka leaders was against the unity, integrity and sovereignty of the country. “Let them not act in a manner that would be prejudicial to the unity of the country,” he added.
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Monday, March 31, 2008
Thursday, March 27, 2008
Airport expansion plan under scanner
It will result in dislocation of 947 houses; High Court verdict on land acquisition soon.
A verdict is expected from the Madras High Court within a week on the Airport Authority of India’s land acquisition plans, but the debate on the merits of its airport expansion project rages on.
While the AAI maintains that the Rs.2,700-crore project, which will result in the dislocation of 947 houses, is crucial to Chennai’s future as a key aviation hub in India and South Asia, experts have raised questions about the necessity and merits of the plan in light of what they perceive to be inefficiencies in airspace use and the cost of displacement.
When the AAI first conceived the plan to expand the airport four years ago, it had forecast that Chennai would need to handle around 50 aircraft movements an hour by 2015. According to the AAI, the expansion plan will enable Chennai to handle traffic growth until 2016. The AAI expects the greenfield airport — Sriperumbudur is the likely location—to be ready by then.
A verdict is expected from the Madras High Court within a week on the Airport Authority of India’s land acquisition plans, but the debate on the merits of its airport expansion project rages on.
While the AAI maintains that the Rs.2,700-crore project, which will result in the dislocation of 947 houses, is crucial to Chennai’s future as a key aviation hub in India and South Asia, experts have raised questions about the necessity and merits of the plan in light of what they perceive to be inefficiencies in airspace use and the cost of displacement.
When the AAI first conceived the plan to expand the airport four years ago, it had forecast that Chennai would need to handle around 50 aircraft movements an hour by 2015. According to the AAI, the expansion plan will enable Chennai to handle traffic growth until 2016. The AAI expects the greenfield airport — Sriperumbudur is the likely location—to be ready by then.
Wednesday, March 26, 2008
Friday, March 21, 2008
Circular corridor for Chennai
The Tamil Nadu Government has conceived a “farsighted Rs.2,300-crore transportation project” to cater to the increasing traffic in Chennai, Finance Minister K. Anbazhagan said in the Assembly. “Under this project, a circular High Speed Transportation Corridor will be constructed over the banks of water courses in Chennai city such as Adyar river, Buckingham Canal, Cooum river and Mambalam canal and it will be connected to the Chennai bypass road,” he said, adding that this 120-km circular corridor would consist of four-lane and six-lane roads. People who travel from the central parts of Chennai to Tambaram, Rajiv Gandhi IT Corridor and ECR and vehicles from Chennai to cities such as Tirupati, Bangalore and Kolkata will be able to travel much faster.
Vellore to become Corporation
Vellore will be a Municipal Corporation from April, said Finance Minister K. Anbazhagan in the Assembly on Thursday. “In the coming financial year, Vellore, will be upgraded a Municipal Corporation.”
The town will be the ninth Corporation in the State. The government will establish Emergency Trauma Care Centres – with Central aid – in Vellore Medical College at a cost of Rs. 7 crore, in Krishnagiri District headquarters Hospital at a cost of Rs. 3 crore and in Kilpauk Medical College at a cost of Rs. 8 crore.
Vellore would also get a new nursing school, along with Theni.
A leather sector special economic zone will be set up on 260 acres at Ranipet.
The government is also planning an Information Technology park in the district.
The town will be the ninth Corporation in the State. The government will establish Emergency Trauma Care Centres – with Central aid – in Vellore Medical College at a cost of Rs. 7 crore, in Krishnagiri District headquarters Hospital at a cost of Rs. 3 crore and in Kilpauk Medical College at a cost of Rs. 8 crore.
Vellore would also get a new nursing school, along with Theni.
A leather sector special economic zone will be set up on 260 acres at Ranipet.
The government is also planning an Information Technology park in the district.
Thursday, March 20, 2008
TN BUDGET to focus on infrastructure, education
SALIENT FEATURES
* Rs 4,179 crore for the highways development in 2008-09.
* Rs 1,000-crore Tamil Nadu Urban Roads Development Project scheme from coming financial year.
* Interest rates on crop loan from co-operative banks reduced to 4% from 5% earlier.
* Allocation of Rs 40 crore towards crop insurance for 25 lakh farmers with government bearing 50% of the insurance premium.
* Crop loans to the tune of Rs 1,177 crore disbursed during as of March 20 this year.
* Public sector cement plant at Alangulam to be modernised at a cost of Rs 82 crore.
* Additional incentive price of Rs 50 per quintal for paddy over and above the incentive price of Rs 100 per quintal announced by the central government thus enhancing the procurement price of fine variety of paddy to Rs 825 per quintal.
* Incentives given to investments above Rs 350 crore in Chennai, Kanchipuram and Tiruvallur districts extended to investments above Rs 250 crore for industries set up in other parts of the state.
* 10,000 farmer self-help groups (SHGs) to be formed consisting of one lakh farmers who are availing crop loans from primary agricultural co-operative banks. They will act as joint liability groups and will be able to access credit from co-operative and public sector banks. These groups will be provided with Rs 10 crore revolving fund through co-operative banks.
* Sarva Siksha Abhiyan (SSA) to be implemented at a cost of about Rs 800 crore in the coming year. State's share of SSA will be Rs 280 crore.
* Siddha medicine exempt from tax.
* Rs 4,179 crore for the highways development in 2008-09.
* Rs 1,000-crore Tamil Nadu Urban Roads Development Project scheme from coming financial year.
* Interest rates on crop loan from co-operative banks reduced to 4% from 5% earlier.
* Allocation of Rs 40 crore towards crop insurance for 25 lakh farmers with government bearing 50% of the insurance premium.
* Crop loans to the tune of Rs 1,177 crore disbursed during as of March 20 this year.
* Public sector cement plant at Alangulam to be modernised at a cost of Rs 82 crore.
* Additional incentive price of Rs 50 per quintal for paddy over and above the incentive price of Rs 100 per quintal announced by the central government thus enhancing the procurement price of fine variety of paddy to Rs 825 per quintal.
* Incentives given to investments above Rs 350 crore in Chennai, Kanchipuram and Tiruvallur districts extended to investments above Rs 250 crore for industries set up in other parts of the state.
* 10,000 farmer self-help groups (SHGs) to be formed consisting of one lakh farmers who are availing crop loans from primary agricultural co-operative banks. They will act as joint liability groups and will be able to access credit from co-operative and public sector banks. These groups will be provided with Rs 10 crore revolving fund through co-operative banks.
* Sarva Siksha Abhiyan (SSA) to be implemented at a cost of about Rs 800 crore in the coming year. State's share of SSA will be Rs 280 crore.
* Siddha medicine exempt from tax.
Tuesday, March 18, 2008
NRIs setting up manufacturing unit
U.S.-based firm Signet Solar Inc. on Monday signed a Memorandum of Understanding with the State government to set up a Rs.2000-crore manufacturing facility near Chennai.
The firm’s chairman, Prabhu Goel, signed the MoU with Industries Secretary M.F. Farooqui in the presence of Chief Minister M. Karunanidhi, Mr.Raja and a host of officials. “We are planning an initial investment of at least Rs.2,000 crore,” said Dr.Goel, in response to questions from presspersons.
The plant will come up at the SIPCOT Sriperumbudur Hi-Tech Special Economic Zone and will boost Tamil Nadu’s chances of attracting investment in high-technology electronic manufacturing industry, according to government officials. About 1,500 persons would be directly employed while another 3,000 are expected to find indirect employment.
When Signet Solar Inc., a firm run by NRIs with experience in semiconductor manufacturing, wanted to set up a manufacturing base in India, it considered all options and studied the offers made by many States.
They met Union Minister for Communications and Information Technology A. Raja and discussed their project to manufacture solar and silicon-based photovoltaic modules and thin technology products.
The firm’s chairman, Prabhu Goel, signed the MoU with Industries Secretary M.F. Farooqui in the presence of Chief Minister M. Karunanidhi, Mr.Raja and a host of officials. “We are planning an initial investment of at least Rs.2,000 crore,” said Dr.Goel, in response to questions from presspersons.
The plant will come up at the SIPCOT Sriperumbudur Hi-Tech Special Economic Zone and will boost Tamil Nadu’s chances of attracting investment in high-technology electronic manufacturing industry, according to government officials. About 1,500 persons would be directly employed while another 3,000 are expected to find indirect employment.
When Signet Solar Inc., a firm run by NRIs with experience in semiconductor manufacturing, wanted to set up a manufacturing base in India, it considered all options and studied the offers made by many States.
They met Union Minister for Communications and Information Technology A. Raja and discussed their project to manufacture solar and silicon-based photovoltaic modules and thin technology products.
Sunday, March 16, 2008
Don`t serve biscuits in anganwadis: Amartya Sen
Pressure is building on the United Progressive Alliance (UPA) government and the Ministry of Women and Child Development to ensure cooked meals in pre-school centres under the central programme of anganwadis.
The latest to take up the matter and join issue with the ministry is none other than Nobel laureate Amartya Sen, who sent a message from Kolkata to Prime Minister Manmohan Singh last week, asking him not to allow a proposal to serve biscuits and pre-packaged food to pre-school children.
Sen also asked the PM to prevent the move to replace cooked food with packaged food as part of the mid-day meal scheme in elementary schools.
The message followed a meeting of the Kolkata Group chaired by Sen under the sponsorship of his Pratichi Trust and Harvard’s Global Equity Initiative.
The meeting, which included 40 people from different fields, expressed shock over a proposal of the Ministry of Women and Child Development “to serve pre-packaged food and biscuits under the Integrated Child Development Services (ICDS) programme and possibly in the mid-day meal programme in elementary schools”.
The proposal by the ministry headed by Renuka Chowdhury has been facing criticism from various quarters with the minister supporting processed food sourced from contractors in anganwadis.
Participants took note of the efforts and positive outcomes across the country to provide cooked mid-day meals. They felt that any change, especially under pressure from commercial interests, would be a regressive step against the best interests of children.
The resistance of the ministry to having cooked meals served locally by anganwadis has led to a reduced allocation to the scheme in the Budget, as against what has been allocated in the Eleventh Plan.
The minister’s sympathy for packaged food and a centralised distribution system has been a source of conflict with the Planning Commission as well as with some officials in her own ministry.
Incidentally, Secretary Chaman Kumar and Joint Secretary Deepa Jain Singh (of the ministry) were removed overnight last year.
Speaking at a seminar on nutrition last year, organised by the steering committee of the government-backed Coalition for Nutritional Security in India, Renuka Chowdhury publicly expressed her stand on not having cooked food in anganwadis.
She said it was not feasible for the anganwadi centres to provide hot cooked meals as the centres are not equipped for this. Thus, these meals would become a “substitute” and not a “supplement” for the family meals.
The latest to take up the matter and join issue with the ministry is none other than Nobel laureate Amartya Sen, who sent a message from Kolkata to Prime Minister Manmohan Singh last week, asking him not to allow a proposal to serve biscuits and pre-packaged food to pre-school children.
Sen also asked the PM to prevent the move to replace cooked food with packaged food as part of the mid-day meal scheme in elementary schools.
The message followed a meeting of the Kolkata Group chaired by Sen under the sponsorship of his Pratichi Trust and Harvard’s Global Equity Initiative.
The meeting, which included 40 people from different fields, expressed shock over a proposal of the Ministry of Women and Child Development “to serve pre-packaged food and biscuits under the Integrated Child Development Services (ICDS) programme and possibly in the mid-day meal programme in elementary schools”.
The proposal by the ministry headed by Renuka Chowdhury has been facing criticism from various quarters with the minister supporting processed food sourced from contractors in anganwadis.
Participants took note of the efforts and positive outcomes across the country to provide cooked mid-day meals. They felt that any change, especially under pressure from commercial interests, would be a regressive step against the best interests of children.
The resistance of the ministry to having cooked meals served locally by anganwadis has led to a reduced allocation to the scheme in the Budget, as against what has been allocated in the Eleventh Plan.
The minister’s sympathy for packaged food and a centralised distribution system has been a source of conflict with the Planning Commission as well as with some officials in her own ministry.
Incidentally, Secretary Chaman Kumar and Joint Secretary Deepa Jain Singh (of the ministry) were removed overnight last year.
Speaking at a seminar on nutrition last year, organised by the steering committee of the government-backed Coalition for Nutritional Security in India, Renuka Chowdhury publicly expressed her stand on not having cooked food in anganwadis.
She said it was not feasible for the anganwadi centres to provide hot cooked meals as the centres are not equipped for this. Thus, these meals would become a “substitute” and not a “supplement” for the family meals.
Saturday, March 15, 2008
Friday, March 14, 2008
H-1B professional visas creating jobs in US: study
American businesses are finding it hard to fill skilled positions even as H-1B visas that bring in foreign professionals, including a large number from India, are creating jobs in the US, shows a new US study.
Confirming Microsoft Chairman Bill Gates' contention that an arbitrary cap on H-1B visas is forcing them to outsource jobs, the study shows major US technology companies today average more than 470 job openings for skilled positions in the US while defence companies have more than 1,265 each.
A second complementary study by the National Foundation for American Policy (NFAP) found after examining H-1B filings and year-by-year job totals for the technology companies in the Standard & Poor (S&P) 500 that hiring skilled foreign nationals on H-1B visas is associated with increases in employment at US technology companies.
The data collected by the Arlington, Virginia-based policy research group, on 'H-1B Visas and Job Creation' show that for every H-1B position requested with the Department of Labour, US technology companies increase their employment by five workers.
For technology firms with less than 5,000 employees, each H-1B position requested in labour condition applications was associated with an increase of employment of 7.5 workers.
This is particularly remarkable since the actual number of people hired on H-1B visas is likely to be much lower than the total number of applications filed with the Department of Labour, said NFAP, focussing on trade, immigration and related issues.
'Combined, these two studies show that US employers continue to need skilled labour, including individuals not born in the United States who, the empirical evidence indicates, are creating new opportunities for US workers,' said NFAP Executive Director Stuart Anderson.
'While every H-1B hired may not necessarily lead to five to seven Americans being hired, the data does strongly imply, at minimum, that new H-1B professionals are complementing other US hires, rather than displacing them, as critics allege.'
According to 'Talent Search: Job Openings and the Need For Skilled Labour in the US Economy', a number of companies have thousands of skilled positions open, with this level of openings persisting for a year or more.
This is part of a longer-term trend that threatens to harm America's economic future, with US companies lacking access to the skilled professionals needed to grow and innovate inside the US.
More than 140,000 job openings for skilled positions are available today in the 500 companies that make up the S&P 500. S&P 500 companies employ only about 14 percent of individuals working in the US, so the overall demand for skilled labour in the US economy is much greater.
The Department of Labour's JOLTS survey indicates that there are approximately four million job openings in the US every month at all skill levels.
The S&P 500 companies with the most job openings as of January 2008 are Microsoft (4,005), Northrup Grumman (3,925), Lockheed Martin (3,901), General Electric (3,078), Countrywide Financial (2,415), JPMorganChase (2,164), Tenet Healthcare (2,050), United Health Group (1,927), Raytheon (1,694), IBM (1,670), Computer Sciences Corp. (1,666), Cintas (1,664), L-3 Communications (1,618), Bank of America (1,600), US Bancorp (1,562) and Cisco Systems (1,504).
These are openings for jobs in the US requiring a BA, professional degree or higher. The NFAP study also found that even employers that reduced employment reduced it less if they had filed for H-1Bs visas.
Confirming Microsoft Chairman Bill Gates' contention that an arbitrary cap on H-1B visas is forcing them to outsource jobs, the study shows major US technology companies today average more than 470 job openings for skilled positions in the US while defence companies have more than 1,265 each.
A second complementary study by the National Foundation for American Policy (NFAP) found after examining H-1B filings and year-by-year job totals for the technology companies in the Standard & Poor (S&P) 500 that hiring skilled foreign nationals on H-1B visas is associated with increases in employment at US technology companies.
The data collected by the Arlington, Virginia-based policy research group, on 'H-1B Visas and Job Creation' show that for every H-1B position requested with the Department of Labour, US technology companies increase their employment by five workers.
For technology firms with less than 5,000 employees, each H-1B position requested in labour condition applications was associated with an increase of employment of 7.5 workers.
This is particularly remarkable since the actual number of people hired on H-1B visas is likely to be much lower than the total number of applications filed with the Department of Labour, said NFAP, focussing on trade, immigration and related issues.
'Combined, these two studies show that US employers continue to need skilled labour, including individuals not born in the United States who, the empirical evidence indicates, are creating new opportunities for US workers,' said NFAP Executive Director Stuart Anderson.
'While every H-1B hired may not necessarily lead to five to seven Americans being hired, the data does strongly imply, at minimum, that new H-1B professionals are complementing other US hires, rather than displacing them, as critics allege.'
According to 'Talent Search: Job Openings and the Need For Skilled Labour in the US Economy', a number of companies have thousands of skilled positions open, with this level of openings persisting for a year or more.
This is part of a longer-term trend that threatens to harm America's economic future, with US companies lacking access to the skilled professionals needed to grow and innovate inside the US.
More than 140,000 job openings for skilled positions are available today in the 500 companies that make up the S&P 500. S&P 500 companies employ only about 14 percent of individuals working in the US, so the overall demand for skilled labour in the US economy is much greater.
The Department of Labour's JOLTS survey indicates that there are approximately four million job openings in the US every month at all skill levels.
The S&P 500 companies with the most job openings as of January 2008 are Microsoft (4,005), Northrup Grumman (3,925), Lockheed Martin (3,901), General Electric (3,078), Countrywide Financial (2,415), JPMorganChase (2,164), Tenet Healthcare (2,050), United Health Group (1,927), Raytheon (1,694), IBM (1,670), Computer Sciences Corp. (1,666), Cintas (1,664), L-3 Communications (1,618), Bank of America (1,600), US Bancorp (1,562) and Cisco Systems (1,504).
These are openings for jobs in the US requiring a BA, professional degree or higher. The NFAP study also found that even employers that reduced employment reduced it less if they had filed for H-1Bs visas.
Thursday, March 13, 2008
Wednesday, March 12, 2008
BlackBerry security issue makes e-com insecure
Indian operators offering BlackBerry services, top executives of Canadian telco Research in Motion (RIM), the company that owns the brand, security agencies and officials of the Department of Telecommunications (DoT) are expected to meet on March 14 to answer the concerns of security agencies in a bid to prevent having BlackBerry services terminated after the March-end deadline.
BlackBerry has an estimated 400,000 subscribers in India. RIM has been asked to give access to its algorithims (needed to decrypt messages), according to a source.
“The security agencies are saying that we should have access to data that are being encrypted by services like BlackBerry on mobile phones and then decrypted when the phone reaches its nominated destination," the source added. RIM does not, or has not been asked, to do this in any other country but is considering the matter.
The case, meanwhile, has opened a Pandora's box in India. Operators note that if BlackBerry services are banned, security agencies could even target various e-commerce applications – especially money transfers – that use encryption.
Encryption is the process of converting information into a form that is unintelligible to anyone except holders of a specific cryptographic key (the intended recipient). This will make e-commerce virtually impossible.
"The argument can logically be extended to all encrypted transactions on wireless devices including banking, e-commerce, email and chat. It will also have a significant impact on privacy concerns for consumers. Much thought needs to be applied before deciding on it," said Alok Shende, Practice Head, Datamonitor India.
Indeed, scrutiny has already been stepped up for all Internet Service Providers (ISPs).
Rajesh Chharia, President, Internet Service Providers Association of India (ISPAI), noted: "Routine check-ups are fine with us since the issue is one of national security. All ISPs must, and will, cooperate. What is of concern, though, is the fact that we have been asked to reduce the encryption from 128-bit to 40-bit, which is ridiculous.”
The demand, he said, will put the entire online banking and e-commerce sectors in jeopardy. Having represented our concerns, we have yet to receive a response from DoT on this issue."
Cyberlaw experts, too, are concerned over the developments. While the government's motive is good, the Indian Information Technology (IT) Act, 2000 is very unclear on this subject, noted Pavan Duggal, Supreme Court advocate and cyberlaw expert.
"Only Section 69 (Sub-section 2) gives the Controller of Certifying Authority the power to order the interception of electronic communication on computer systems located in India," he points out. In RIM's case, though, decryption is not possible without RIM's consent, which is why the government is fuming.
"This is, perhaps, the first time that the government is admitting to intercepting electronic communication. Blanket power to intercept emails will probably end up diluting the legal validity of encrypted communication in an age when privacy is of utmost importance to corporate and individuals. The Indian government could be firm, asking RIM (or any other player) to take action on a specific case that arouses suspicion. It may not be wise and practical to ban the services altogether," said Na Vijayashankar, cyberlaw expert.
Some technology experts like Vijay Mukhi note that if the email originates from India, it can be intercepted at the wireless service provider's end, since the nodes are in India.
The problem arises if the email originates from a BlackBerry device (since it goes to a server outside India where it gets encrypted). Even then, monitoring every mail that emanates from a server outside India will lead to a ridiculous state of affairs. All email services with servers in foreign lands will have to be shut down.
Google and Yahoo declined to comment on the issue and Microsoft India said the issue was not of immediate concern to them.
Sumeet Gugnani, Director, Mobile Communication Business, Microsoft India, said: “Windows Mobile-enabled handheld devices and cellphones enable users to configure mails on their respective in-house (read in India) exchange servers if they so wish.”
BlackBerry has an estimated 400,000 subscribers in India. RIM has been asked to give access to its algorithims (needed to decrypt messages), according to a source.
“The security agencies are saying that we should have access to data that are being encrypted by services like BlackBerry on mobile phones and then decrypted when the phone reaches its nominated destination," the source added. RIM does not, or has not been asked, to do this in any other country but is considering the matter.
The case, meanwhile, has opened a Pandora's box in India. Operators note that if BlackBerry services are banned, security agencies could even target various e-commerce applications – especially money transfers – that use encryption.
Encryption is the process of converting information into a form that is unintelligible to anyone except holders of a specific cryptographic key (the intended recipient). This will make e-commerce virtually impossible.
"The argument can logically be extended to all encrypted transactions on wireless devices including banking, e-commerce, email and chat. It will also have a significant impact on privacy concerns for consumers. Much thought needs to be applied before deciding on it," said Alok Shende, Practice Head, Datamonitor India.
Indeed, scrutiny has already been stepped up for all Internet Service Providers (ISPs).
Rajesh Chharia, President, Internet Service Providers Association of India (ISPAI), noted: "Routine check-ups are fine with us since the issue is one of national security. All ISPs must, and will, cooperate. What is of concern, though, is the fact that we have been asked to reduce the encryption from 128-bit to 40-bit, which is ridiculous.”
The demand, he said, will put the entire online banking and e-commerce sectors in jeopardy. Having represented our concerns, we have yet to receive a response from DoT on this issue."
Cyberlaw experts, too, are concerned over the developments. While the government's motive is good, the Indian Information Technology (IT) Act, 2000 is very unclear on this subject, noted Pavan Duggal, Supreme Court advocate and cyberlaw expert.
"Only Section 69 (Sub-section 2) gives the Controller of Certifying Authority the power to order the interception of electronic communication on computer systems located in India," he points out. In RIM's case, though, decryption is not possible without RIM's consent, which is why the government is fuming.
"This is, perhaps, the first time that the government is admitting to intercepting electronic communication. Blanket power to intercept emails will probably end up diluting the legal validity of encrypted communication in an age when privacy is of utmost importance to corporate and individuals. The Indian government could be firm, asking RIM (or any other player) to take action on a specific case that arouses suspicion. It may not be wise and practical to ban the services altogether," said Na Vijayashankar, cyberlaw expert.
Some technology experts like Vijay Mukhi note that if the email originates from India, it can be intercepted at the wireless service provider's end, since the nodes are in India.
The problem arises if the email originates from a BlackBerry device (since it goes to a server outside India where it gets encrypted). Even then, monitoring every mail that emanates from a server outside India will lead to a ridiculous state of affairs. All email services with servers in foreign lands will have to be shut down.
Google and Yahoo declined to comment on the issue and Microsoft India said the issue was not of immediate concern to them.
Sumeet Gugnani, Director, Mobile Communication Business, Microsoft India, said: “Windows Mobile-enabled handheld devices and cellphones enable users to configure mails on their respective in-house (read in India) exchange servers if they so wish.”
Monday, March 10, 2008
Investors lose 24% value as 13 IPOs flop
Investors have lost around Rs 3,000 crore so far as 13 of the 18 initial public offers (IPOs) listed during the current calendar year till date are trading at a discount. The loss accounts for 24 per cent of the total offer size of Rs 12,314 crore.
The big flops of the year – Reliance Power and Future Capital Holdings – are currently available at 25 per cent below their issue price.
The other major post-listing losers include BGR Energy, Shriram EPC, J Kumar Infraprojects and KNR Constructions.
Among the smaller issues, Precision Pipes and Profiles, Manaksia, and Porwal Auto Components are currently available at 50 per cent below their issue prices.
A few IPO investors, however, are lucky to get a marginal appreciation on their investment with five offers listed during the current calendar year so far having fetched a modest 15.3 per cent return. The IPOs are GSS America Infotech, Onmobile Global, Aries Agro, Burnpur Cement and IRB Infrastructure Developers.
The big flops of the year – Reliance Power and Future Capital Holdings – are currently available at 25 per cent below their issue price.
The other major post-listing losers include BGR Energy, Shriram EPC, J Kumar Infraprojects and KNR Constructions.
Among the smaller issues, Precision Pipes and Profiles, Manaksia, and Porwal Auto Components are currently available at 50 per cent below their issue prices.
A few IPO investors, however, are lucky to get a marginal appreciation on their investment with five offers listed during the current calendar year so far having fetched a modest 15.3 per cent return. The IPOs are GSS America Infotech, Onmobile Global, Aries Agro, Burnpur Cement and IRB Infrastructure Developers.
Monday, March 3, 2008
All set for Class XII examination
24-hour police protection being given to question paper custodian centres
4,000 persons to supervise the exams
Supervisor squads to visit exam centres
Nearly 4,000 persons will supervise the HSC (Class XII) examination commencing on Monday, Director of Government Examinations Vasanthi Jeevanandam said here on Sunday.
Warning against malpractice
Speaking to presspersons on the arrangements made for the examination, she said squads of supervisors would visit various examination centres in groups of five or six to check if invigilators or students indulged in any malpractice.
They would take immediate action should they come across such a case.
Anna University faculty members were roped in to ensure smooth conduct of the examination, Ms. Jeevanandam said.
The department would take severe action against candidates if they possessed printed books, notes, manuscripts in the examination hall, attempted to copy, misbehaved with invigilators or if they substituted answer books.
Candidates found impersonating would be debarred from taking the examinations for the next five years.
For those caught copying, their marks in that particular subject would be cancelled, she said.
Chief invigilators
On the day of the Physics, Chemistry, Mathematics, Botany, Zoology and Biology examinations, headmasters of other schools would be posted as chief invigilators. Twenty four-hour police protection was being provided to 278 question paper custodian centres all over the State.
New initiative
Speaking on the initiatives taken this year, the Director said students would be provided additional 10 minutes to go through question papers, which would be distributed at 10 a.m. They would receive the answer scripts at 10.10 a.m.
The students would be given three hours to write the examination.
For the Class X examinations beginning later this month, the marks of students of Matriculation, Anglo-Indian and OSLC streams would be converted to 500, but there would be no change in the question paper pattern, she said.
Code marking
The Director urged students to clearly mark their question paper code as A or B on the main answer script, fly leaf and additional sheets. Additional time would be given to students with learning disabilities and hearing impairments, while students with visual impairment would be provided with scribes, she said.
As many as 5,93,306 students from 4,819 schools in Tamil Nadu would appear for the HSC examinations at 1, 684 examination centres.
A total of 11,002 students in Puducherry would take the examination at 30 centres there.
4,000 persons to supervise the exams
Supervisor squads to visit exam centres
Nearly 4,000 persons will supervise the HSC (Class XII) examination commencing on Monday, Director of Government Examinations Vasanthi Jeevanandam said here on Sunday.
Warning against malpractice
Speaking to presspersons on the arrangements made for the examination, she said squads of supervisors would visit various examination centres in groups of five or six to check if invigilators or students indulged in any malpractice.
They would take immediate action should they come across such a case.
Anna University faculty members were roped in to ensure smooth conduct of the examination, Ms. Jeevanandam said.
The department would take severe action against candidates if they possessed printed books, notes, manuscripts in the examination hall, attempted to copy, misbehaved with invigilators or if they substituted answer books.
Candidates found impersonating would be debarred from taking the examinations for the next five years.
For those caught copying, their marks in that particular subject would be cancelled, she said.
Chief invigilators
On the day of the Physics, Chemistry, Mathematics, Botany, Zoology and Biology examinations, headmasters of other schools would be posted as chief invigilators. Twenty four-hour police protection was being provided to 278 question paper custodian centres all over the State.
New initiative
Speaking on the initiatives taken this year, the Director said students would be provided additional 10 minutes to go through question papers, which would be distributed at 10 a.m. They would receive the answer scripts at 10.10 a.m.
The students would be given three hours to write the examination.
For the Class X examinations beginning later this month, the marks of students of Matriculation, Anglo-Indian and OSLC streams would be converted to 500, but there would be no change in the question paper pattern, she said.
Code marking
The Director urged students to clearly mark their question paper code as A or B on the main answer script, fly leaf and additional sheets. Additional time would be given to students with learning disabilities and hearing impairments, while students with visual impairment would be provided with scribes, she said.
As many as 5,93,306 students from 4,819 schools in Tamil Nadu would appear for the HSC examinations at 1, 684 examination centres.
A total of 11,002 students in Puducherry would take the examination at 30 centres there.
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