Mahindra & Mahindra, the world's fourth largest tractor maker, has deferred its plan to build a Rs 400 crore tractor facility in Chennai on apprehensions that tractor sales may slow, a top company executive has said.
"We have postponed our plans for an integrated plant in Chennai which was supposed to come up inside the company's research facility following the downturn in the industry," Anjani Kumar Choudhari, president, farm equipment sector, Mahindra & Mahindra, said.
Mumbai-based Mahindra's tractor facility in the southern Indian city was expected to produce 145,000 units a year.
Indian auto makers are deferring plans to build new factories as demand for vehicles fall owing to high interest rates and rising fuel prices. The Reserve Bank has raised the cash reserve ratio nine times to 8.25 per cent since January 2007 to help Finance Minister P Chidambaram curb inflation.
On earlier occasions too, automotive projects of majors including truck and bus maker Ashok Leyland, two-wheeler leader Hero Honda had put their proposed greenfield ventures on hold on the back of a weakening market. Growth of commercial vehicles was near flat at just a 4 per cent rise in sales while sales of two-wheelers slumped to a negative growth of 8 per cent last fiscal.
"We are going to witness a flat to 5 per cent growth in sales of tractors during this year. Finance (availability) will be the key issue," admitted Choudhari. The industry sold 302,241 units last year as compared to 318,328 units sold in the previous year. The current financial year will be a tough season for tractor manufacturers, claim auto analysts tracking the segment.
According to the latest figures for April provided by M&M, the company saw a decline of 4.20 per cent in sales, selling just 8,679 units against 9,060 units in the same month of the previous year.
Growth in market share for the company (excluding that of Punjab Tractors) was negligible during the last year. The company maintained its full year domestic market share at 29.9 per cent. In addition the company saw a decline of 4.7 per cent in sales at 90,509 tractors during the same period even as the industry witnessed a decline of 5.1 per cent.
Punjab Tractors (PTL), which was bought over by M&M last year for nearly Rs 1,400 crore, has huge spare capacity at its plant. The brand produces just 28,000 tractors currently, less than half of its total installed capacity of 60,000 units a year. PTL branded tractors sells mostly in the northern market and has about 10 per cent market share.
"The reason we wanted to set up a base in Chennai was because of the relative lower presence of our brand in the southern market. We have facilities in the north, central and the west but not in the south (of the country)," Choudhari said.
Piyush Parag, analyst, Religare Securities, said, "There are major concerns over the financing part (of tractors). There was a steep rise in the NPAs (non-performing assets) last season and following this banks may reduce their exposure even further in the segment. In addition if the monsoon is irregular this year then sales of tractors will further fall." Rising material costs will also continue to dent the margins of the company during the year too. Last year M&M had passed on the full price hike in materials cost of Rs 15,000 to the customer. Costs of steel has doubled in the last three years claim industry experts. M&M's share price slipped by 2.26 per cent to close at Rs 592.50 a share on the Bombay Stock Exchange, as compared with yesterday's close of Rs 606.20 a share.
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Friday, May 30, 2008
Virudhunagar betters its own record
With a success rate of 95.48 per cent, Virudhunagar district continued to reign supreme in the State in 10th examination (SSLC) overall pass percentage for the 22nd straight year.
In fact, the district has bettered its record registered in the previous years. Last year, 93.69 per cent of students had passed out. This year, 20,740 students out of 21,721 who appeared for the examinations have succeeded.
Chief Educational Officer S. Nagaraja Murugan attributed the success to the untiring efforts of teachers. “It is not just that more number of students have passed. But we have achieved more than that. The number of centum in subjects and the number of schools recording 100 per cent success rate too have gone up substantially.”
This year, the district had secured 858 centum, including one in English, as against mere 145 centum got in subjects last year. A total of 619 students had got maximum marks in Mathematics, 230 in Science and eight in Social Science.
Aruppukottai Educational District, comprising backward regions such as Tiruchuzhi and Narikudi, has bettered the Virudhunagar educational district.
In fact, the district has bettered its record registered in the previous years. Last year, 93.69 per cent of students had passed out. This year, 20,740 students out of 21,721 who appeared for the examinations have succeeded.
Chief Educational Officer S. Nagaraja Murugan attributed the success to the untiring efforts of teachers. “It is not just that more number of students have passed. But we have achieved more than that. The number of centum in subjects and the number of schools recording 100 per cent success rate too have gone up substantially.”
This year, the district had secured 858 centum, including one in English, as against mere 145 centum got in subjects last year. A total of 619 students had got maximum marks in Mathematics, 230 in Science and eight in Social Science.
Aruppukottai Educational District, comprising backward regions such as Tiruchuzhi and Narikudi, has bettered the Virudhunagar educational district.
Thursday, May 29, 2008
CBSE results: double delight for Chennai
After having topped the regions in the Central Board of Secondary Education Class XII examinations, it is a double delight for Chennai this year as it has obtained the highest overall pass percentage of 95.26 in the Class X results.
There has been an overall increase of 2.64 percentage points from 84.44 per cent in 2007 to 87.08 per cent this year.
For the Chennai region, the results were declared on Tuesday. Results for the other five regions – Delhi, Ajmer, Allahabad, Guwahati and Panchkula – were announced on Thursday.
“Girls have done better than boys. The pass percentage for girls is a high 87.96, while boys have secured 86.46. Last year, there was a neck-and-neck race between the two, but this year girls have surged ahead by 1.5 percentage points,” said CBSE chairman Ashok Ganguly at a press conference here on Thursday.
The overall pass percentage of regular students is 88.96 while that of private candidates is 26.34. As for the decline in overall pass percentage of private candidates from last year’s 26.74 per cent, Mr. Ganguly said: “Bulk of these candidates are from Delhi. The Delhi government should give appropriate guidance to these institutions. We have made suggestions to them. There could be a State open school to take care of these students.”
The pass percentage for candidates from Jawahar Navodaya Vidyalayas is the highest in the country with a remarkable 97.54 compared with 96.41 in 2007.
Kendriya Vidyalayas have secured an overall 96.07 per cent, up from 95.64 per cent.
There has been an overall increase of 2.64 percentage points from 84.44 per cent in 2007 to 87.08 per cent this year.
For the Chennai region, the results were declared on Tuesday. Results for the other five regions – Delhi, Ajmer, Allahabad, Guwahati and Panchkula – were announced on Thursday.
“Girls have done better than boys. The pass percentage for girls is a high 87.96, while boys have secured 86.46. Last year, there was a neck-and-neck race between the two, but this year girls have surged ahead by 1.5 percentage points,” said CBSE chairman Ashok Ganguly at a press conference here on Thursday.
The overall pass percentage of regular students is 88.96 while that of private candidates is 26.34. As for the decline in overall pass percentage of private candidates from last year’s 26.74 per cent, Mr. Ganguly said: “Bulk of these candidates are from Delhi. The Delhi government should give appropriate guidance to these institutions. We have made suggestions to them. There could be a State open school to take care of these students.”
The pass percentage for candidates from Jawahar Navodaya Vidyalayas is the highest in the country with a remarkable 97.54 compared with 96.41 in 2007.
Kendriya Vidyalayas have secured an overall 96.07 per cent, up from 95.64 per cent.
Two petitions against ‘Dasavatharam’ dismissed
The Madras High Court on Thursday dismissed two petitions against the film ‘Dasavatharam. The petitions had alleged that the film contained scenes which offended Hindus.
In its order, a Division Bench comprising Justices K.Venkataraman and M.Sathyanarayanan, said: “We are constrained to come to the conclusion that the apprehension of the petitioners at this stage before they could view the film could only be a surmise and without proof that there are certain scenes which will affect the Hindus, more particularly the Vaishnavites.”
“IPR not involved”
The Bench said freedom of expression guaranteed under Art.19 (1) could not be curtailed on mere assumptions of the petitioners that the film contained certain scenes which would hurt the sentiments of Hindus.
There was no Intellectual Property Rights involved in the use of the title ‘Dasavatharam.’ The persons who view the film are not so illiterate as to take a view that it is 10 ‘avatars’ (incarnations) of Lord Vishnu.
“We are confident that the people at large will knowthat the hero of the film Kamal Haasan is acting in 10 different roles and that is why the film is named Dasavatharam.”
The usage of the title would not affect the sentiments of Hindus.
In its order, a Division Bench comprising Justices K.Venkataraman and M.Sathyanarayanan, said: “We are constrained to come to the conclusion that the apprehension of the petitioners at this stage before they could view the film could only be a surmise and without proof that there are certain scenes which will affect the Hindus, more particularly the Vaishnavites.”
“IPR not involved”
The Bench said freedom of expression guaranteed under Art.19 (1) could not be curtailed on mere assumptions of the petitioners that the film contained certain scenes which would hurt the sentiments of Hindus.
There was no Intellectual Property Rights involved in the use of the title ‘Dasavatharam.’ The persons who view the film are not so illiterate as to take a view that it is 10 ‘avatars’ (incarnations) of Lord Vishnu.
“We are confident that the people at large will knowthat the hero of the film Kamal Haasan is acting in 10 different roles and that is why the film is named Dasavatharam.”
The usage of the title would not affect the sentiments of Hindus.
Wednesday, May 28, 2008
“No need to write to Centre, Karnataka on executing Hogenakkal project”
There is no need for Tamil Nadu to write either to the Centre or to the Karnataka government on implementing the Hogenakkal drinking water project, which is proceeding on schedule, Chief Minister M. Karunanidhi asserted on Wednesday.
The Rs.1,334-crore water supply and the fluorosis mitigation project will benefit 3 municipalities, 17 town panchayats and 6755 habitations in 18 unions of Dharmapuri and Krishnagiri districts.
Mr. Karunanidhi said the timeline of the project remained unchanged.
The first part of the work related to selecting a project management consultant. For this, tenders had already been called in February 2008 and the last date for submission was end of March 2008. The finalisation of the consultant would be done in July.
The Rs.1,334-crore water supply and the fluorosis mitigation project will benefit 3 municipalities, 17 town panchayats and 6755 habitations in 18 unions of Dharmapuri and Krishnagiri districts.
Mr. Karunanidhi said the timeline of the project remained unchanged.
The first part of the work related to selecting a project management consultant. For this, tenders had already been called in February 2008 and the last date for submission was end of March 2008. The finalisation of the consultant would be done in July.
SSI, Unitech JV for township in Chennai
Urban infrastructure firm SSI has entered into a joint development agreement with a consortium of Unitech and Arihant Foundation to develop a 70-acre integrated township in Chennai.
SSI stated that the joint development venture, based on 43:57 revenue sharing model, is expected to generate Rs 2000 crore cash flow for the company.
With approximately 4000 units and a total build up area of 7 million sq.ft the project is expected to be completed over 7 years. The project will be mainly developed as a residential township with supportive retail and commercial space.
SSI stated that the joint development venture, based on 43:57 revenue sharing model, is expected to generate Rs 2000 crore cash flow for the company.
With approximately 4000 units and a total build up area of 7 million sq.ft the project is expected to be completed over 7 years. The project will be mainly developed as a residential township with supportive retail and commercial space.
Monday, May 26, 2008
Government drops move to privatise sand quarries
Bowing to the demand of its allies, the Dravida Munnetra Kazhagam government on Monday decided not to go ahead with the decision to privatise sand quarrying.
In a resolution adopted at the end of a meeting of political parties represented in the Assembly here, a resolution was adopted to the effect that the government would continue sand quarrying across the State. Trucks could be permitted to carry up to three units of sand and the law should be amended to ensure that sand was not smuggled to neighbouring States, it said.
A committee comprising secretaries of the Industries department, the PWD, Revenue and Home departments will be constituted to study the present system and present a report to the government.
The main Opposition party, the All India Anna Dravida Munnetra Kazhagam, its ally, the Marumalarchi Dravida Munnetra Kazhagam and the Desiya Murpokku Dravidar Kazhagam stayed away from the meeting, protesting against the government move to privatise sand quarrying.
Sand quarrying was in private hands till October 2003. The AIADMK government took over quarrying in a bid to prevent overexploitation of the natural resource and to boost revenues. The DMK government continued this policy. It announced on May 19 that sand mining would be leased through tenders and open auction.
At the meeting on Monday, Congress Legislature Party leader D. Sudarssanam, who was highly critical of the government in the last Assembly session over the manner in which quarrying operations were being carried out, asserted that new problems would arise if the government leased quarries.
In a resolution adopted at the end of a meeting of political parties represented in the Assembly here, a resolution was adopted to the effect that the government would continue sand quarrying across the State. Trucks could be permitted to carry up to three units of sand and the law should be amended to ensure that sand was not smuggled to neighbouring States, it said.
A committee comprising secretaries of the Industries department, the PWD, Revenue and Home departments will be constituted to study the present system and present a report to the government.
The main Opposition party, the All India Anna Dravida Munnetra Kazhagam, its ally, the Marumalarchi Dravida Munnetra Kazhagam and the Desiya Murpokku Dravidar Kazhagam stayed away from the meeting, protesting against the government move to privatise sand quarrying.
Sand quarrying was in private hands till October 2003. The AIADMK government took over quarrying in a bid to prevent overexploitation of the natural resource and to boost revenues. The DMK government continued this policy. It announced on May 19 that sand mining would be leased through tenders and open auction.
At the meeting on Monday, Congress Legislature Party leader D. Sudarssanam, who was highly critical of the government in the last Assembly session over the manner in which quarrying operations were being carried out, asserted that new problems would arise if the government leased quarries.
Hackers cracking mobile phones, warn experts
Much to the discomfort of mobile users, hackers, who are already wrecking websites and e-mails, are now targeting cell phones as well. Hackers are intruding mobile phones using hacking tools like spyware and spoofing, according to cyber experts.
Spyware is a tool which manipulates short message service (SMS) and allows them to be read by others, while spoofing, replaces mobile number of sender’s message, they said.
Explaining the functions of spyware, a Delhi-based cyber expert said, “A hacker sends an SMS to the targeted person. The person opens the message, installing spyware onto the device. The spyware, unknown to the victim, takes the SMS and forwards it to the hacker.”
Once installed, the hacker can monitor the ‘compromised’ phone call details and can even listen to the calls made or received by the user, Rajat Khare Director of Information security consulting firm Appin said.
However, it’s very difficult for the user to find out whether his/her phone has been hacked.
Besides spyware, SMS spoofing is another tool which hackers are widely using, Mr. Khare said.
Spoofing is used for changing the identity of source of SMS either with text or any desired number.
Spyware is a tool which manipulates short message service (SMS) and allows them to be read by others, while spoofing, replaces mobile number of sender’s message, they said.
Explaining the functions of spyware, a Delhi-based cyber expert said, “A hacker sends an SMS to the targeted person. The person opens the message, installing spyware onto the device. The spyware, unknown to the victim, takes the SMS and forwards it to the hacker.”
Once installed, the hacker can monitor the ‘compromised’ phone call details and can even listen to the calls made or received by the user, Rajat Khare Director of Information security consulting firm Appin said.
However, it’s very difficult for the user to find out whether his/her phone has been hacked.
Besides spyware, SMS spoofing is another tool which hackers are widely using, Mr. Khare said.
Spoofing is used for changing the identity of source of SMS either with text or any desired number.
Chennai Desalination project could be delayed
The commissioning of the 100-million litres a day (mld) desalination plant at Kattupalli near suburban Minjur is likely to be delayed by four months. It was scheduled to be commissioned in August this year.
Attributing the delay to unseasonal rain in March, Chennai Metrowater officials said about 70 per cent of the works had been completed. Dredging operation also could not be carried out due to rough sea. Dredging would facilitate laying of a separate pipeline to draw seawater from 10-metre-depth below sea level and discharge waste water, a Metrowater official said.
Though about 15 mld of water was to be supplied on completion of the first phase of the project, envisaged to be completed in May, the delay had pushed the project deadline to December, he said.
Chennai Water Desalination Limited, a special purpose vehicle formed by IVRCL Infrastructures and Projects Limited and its technical partner Befesa Construccion y Tecnologia Ambiental, Spain, started implementing the project on a DBOOT (design, build, own, operate and transfer) basis last year.
The official said work for constructing units such as sand filters and cartridge filters, used to remove minute particles as part of the preliminary treatment, was under way. The process to erect five reverse osmosis units, an important component in desalinating seawater, was also in progress. Each of the unit that had a capacity to treat 20 mld of seawater would be commissioned one after another during December, the official said.
About Rs.118 crore was expected to be spent on purchase of water from the Minjur plant.
Attributing the delay to unseasonal rain in March, Chennai Metrowater officials said about 70 per cent of the works had been completed. Dredging operation also could not be carried out due to rough sea. Dredging would facilitate laying of a separate pipeline to draw seawater from 10-metre-depth below sea level and discharge waste water, a Metrowater official said.
Though about 15 mld of water was to be supplied on completion of the first phase of the project, envisaged to be completed in May, the delay had pushed the project deadline to December, he said.
Chennai Water Desalination Limited, a special purpose vehicle formed by IVRCL Infrastructures and Projects Limited and its technical partner Befesa Construccion y Tecnologia Ambiental, Spain, started implementing the project on a DBOOT (design, build, own, operate and transfer) basis last year.
The official said work for constructing units such as sand filters and cartridge filters, used to remove minute particles as part of the preliminary treatment, was under way. The process to erect five reverse osmosis units, an important component in desalinating seawater, was also in progress. Each of the unit that had a capacity to treat 20 mld of seawater would be commissioned one after another during December, the official said.
About Rs.118 crore was expected to be spent on purchase of water from the Minjur plant.
Wednesday, May 21, 2008
Government revises admission norms for arts, science colleges
The State government has revised the admission guidelines for arts and science colleges from this academic year (2008-09) in view of the introduction of Choice Based Credit System (CBCS).
A G.O., dated May 10, was issued citing the procedures for admission of students to undergraduate/postgraduate courses in Government, aided and unaided arts and science colleges, an official in the Department of Collegiate Education here told The Hindu on Tuesday. Under the new system, colleges will have to prepare a rank list for admission to undergraduate courses out of 800 marks in subject components in the Plus Two examination.
“Colleges have been told to follow the revised guidelines in letter and spirit, and the particulars of how admissions should be made for various courses like B.A., B.Sc. and B.Com. have been sent to them by the Directorate,” said V. Swaminathan, Regional Joint Director of Collegiate Education.
Admission to Government colleges will be through counselling like last year. The general rule of calculating marks for the subject component for candidates who apply for undergraduate courses is mentioned in the latest guidelines.
The GO also cites the subjects that a student should have studied in Plus Two for becoming eligible for admission to a particular undergraduate course.
According to the GO, the last date for receipt of filled-in applications by colleges should be fixed as the 10th working day from the date of issue of Plus Two mark statement.
Procedures for sale and issue of application forms for undergraduate courses, selection committees, reservation rules and rank list preparation are extensively dealt with in the revised guidelines.
A G.O., dated May 10, was issued citing the procedures for admission of students to undergraduate/postgraduate courses in Government, aided and unaided arts and science colleges, an official in the Department of Collegiate Education here told The Hindu on Tuesday. Under the new system, colleges will have to prepare a rank list for admission to undergraduate courses out of 800 marks in subject components in the Plus Two examination.
“Colleges have been told to follow the revised guidelines in letter and spirit, and the particulars of how admissions should be made for various courses like B.A., B.Sc. and B.Com. have been sent to them by the Directorate,” said V. Swaminathan, Regional Joint Director of Collegiate Education.
Admission to Government colleges will be through counselling like last year. The general rule of calculating marks for the subject component for candidates who apply for undergraduate courses is mentioned in the latest guidelines.
The GO also cites the subjects that a student should have studied in Plus Two for becoming eligible for admission to a particular undergraduate course.
According to the GO, the last date for receipt of filled-in applications by colleges should be fixed as the 10th working day from the date of issue of Plus Two mark statement.
Procedures for sale and issue of application forms for undergraduate courses, selection committees, reservation rules and rank list preparation are extensively dealt with in the revised guidelines.
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