Bugatti Veyron in India

The Bugatti Veyron 16.4 is only four years old, but its reputation has quickly spread around the globe among elite automobile enthusiasts. It tops the list of the world’s top-10 most expensive cars

Bugatti Veyron Specs

W16 engine-16 cylinders in 4 banks of 4 cylinders fed by four turbochargers, a dual-clutch DSG computer-controlled manual transmission, the Veyron has a length is 4462 mm (175.8 in) a wide of 1998 mm (78.7 in) and hight of 1206 mm (47.5 in). Counting a sum of 10 radiators, for the engine cooling system, for transmission oil, a heat exchanger for the air to liquid intercoolers, for engine oil etc., the car has a power to weight ratio of 529 bhp/tonne

maybe one day when  you master the share game , you can own one of these.Good luck !!

Symbol for indian rupee to change from  “Rs” and  “INR”

THE Indian rupee will join the dollar, yen, euro and pound with its own unique symbol

Until now the Indian rupee has been denoted by the abbreviation ‘Rs’ or INRs to distinguish it from neighboring countries like Pakistan and Sri Lanka which also have rupees or indonesia which has rupiah. The indian rupee will soon have the Hindi character closest to ‘R’ with a horizontal line crossing the middle like the euro just like the “US dollar”  has the dollar sign  or “the pound” having the pound symbol.

New rupee symbol ready for use on computers

Fret no more about downloading the rupee symbol on to your computer. The symbol may take a while to appear on the keyboard but can rightaway be typed as a character, thanks to a newly-created font.

The design for the indian rupee was chosen in a competition won by a teacher at one of the country’s Indian Institutes of Technology. Uday Kumar’s design was chosen from a shortlist of five and he was awarded around £3,500 in prize money.

Mangalore-based Foradian Technologies Pvt Ltd has created a font called Rupee_Foradian. It can be downloaded from the company’s blogsite — http://blog.foradian.com — and used for free. The company’s CEO Unni Koroth told TOI that it was "something of an amusement to us in this era of technological advancement" that the government of India said it would take more than a year for the symbol to become commercially available. "We thought of doing something about it," he said. The company created a vector image of the new rupee sign and mapped the ‘grave accent’ symbol — the key just above the tab button on the keyboard — with it. This keystroke was chosen because most users and programmers don’t use it.

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A YouTube video — Shows how easy it is to use the symbol.

www.youtube.com/watch?v=XSfhzuU7Crw

India’s decision to adopt a symbol reflects its rising confidence as its economy grows at more than nine per cent. India is expected to overtake China as the world’s fastest growing economy in the next twenty years and the rupee is expected to be ranked alongside the euro, dollar, pound and yen before then.

"It’s a big statement on the Indian currency… The symbol would lend a distinctive character and identity to the currency and further highlight the strength and global face of the Indian economy," Information and Broadcasting Minister Ambika Soni told reporters after the cabinet meeting.

Symbol for indian rupee to change from  “Rs” and  “INR”

THE Indian rupee will join the dollar, yen, euro and pound with its own unique symbol

Until now the Indian rupee has been denoted by the abbreviation ‘Rs’ or INRs to distinguish it from neighboring countries like Pakistan and Sri Lanka which also have rupees or indonesia which has rupiah. The indian rupee will soon have the Hindi character closest to ‘R’ with a horizontal line crossing the middle like the euro just like the “US dollar”  has the dollar sign  or “the pound” having the pound symbol.

New rupee symbol ready for use on computers

Fret no more about downloading the rupee symbol on to your computer. The symbol may take a while to appear on the keyboard but can rightaway be typed as a character, thanks to a newly-created font.

The design for the indian rupee was chosen in a competition won by a teacher at one of the country’s Indian Institutes of Technology. Uday Kumar’s design was chosen from a shortlist of five and he was awarded around £3,500 in prize money.

Mangalore-based Foradian Technologies Pvt Ltd has created a font called Rupee_Foradian. It can be downloaded from the company’s blogsite — http://blog.foradian.com — and used for free. The company’s CEO Unni Koroth told TOI that it was "something of an amusement to us in this era of technological advancement" that the government of India said it would take more than a year for the symbol to become commercially available. "We thought of doing something about it," he said. The company created a vector image of the new rupee sign and mapped the ‘grave accent’ symbol — the key just above the tab button on the keyboard — with it. This keystroke was chosen because most users and programmers don’t use it.

|
A YouTube video — Shows how easy it is to use the symbol.

www.youtube.com/watch?v=XSfhzuU7Crw

India’s decision to adopt a symbol reflects its rising confidence as its economy grows at more than nine per cent. India is expected to overtake China as the world’s fastest growing economy in the next twenty years and the rupee is expected to be ranked alongside the euro, dollar, pound and yen before then.

"It’s a big statement on the Indian currency… The symbol would lend a distinctive character and identity to the currency and further highlight the strength and global face of the Indian economy," Information and Broadcasting Minister Ambika Soni told reporters after the cabinet meeting.

Stocks in India traded higher following three days of decline after deregulation of fuel oil by the government stoked expectations that state-owned oil marketing companies will find favors with investors.

With the move, the government aims to save billions of dollars it gives in subsidy on fuel. It also believes the move will also make oil companies more competitive.

Consumers are feeling the immediate effects of the fuel price hike. Since the prices are linked to global rates, they could rise or fall every fortnight. And costlier diesel will affect food prices because of high transportation costs. India, battling inflation rates of close to 10 per cent, will likely see another one percentage point increase because of the decision. Uneven petroleum prices in different states of the country, along with cross subsidising at various levels, have promoted hoarding of petroleum products and leakages of revenue for a long time

GTL Infrastructure Ltd and Reliance Infratel, a subsidiary of Reliance Communications Ltd entered into an Rs 50,000 crore deal to create the world’s largest independent telecom infrastructure company that will be neither owned nor controlled by a telecom operator. Under the deal, which has in-principle approval of all three boards, GTL will purchase approximately 50,000 towers from Reliance in its second acquisition this year. The sale will cut Reliance’s debt by at least Rs 13,500 crore and also help in its network upgrades after it paid license fees to offer high-speed wireless phone services.
The Mumbai-based Life Insurance Corporation of India is planning to boost its investment in stocks and bonds by about 4% this year as its premium collections climb.

This is one of the biggest economic reforms undertaken by India since the government resumed power last year. It is a bold political move at a time when the country is facing nearly 10 per cent inflation.

The nation’s largest money manager with Rs 10,70,000 crore of assets, is expecting to boost investments in bonds and stocks to by much as Rs 20,000 crore in the fiscal year ending March 31, 2011, said Thomas Mathew, Managing Director of the state-owned insurer, in Mumbai today.

Tata Motors Ltd., challenging Hyundai Motor Co. as India’s No. 2 automaker, may gain an edge over the South Korean carmaker from India’s decision to end state controls on gasoline prices.

Tata may lure drivers from Hyundai and Maruti Suzuki India Ltd., the nation’s biggest carmaker, as it has a wider range of diesel models, said Mahantesh Sabarad, a Mumbai-based analyst at Fortune Equity Brokers India Ltd. Prime Minister Manmohan Singh last week freed gasoline prices to pare spending, while keeping diesel subsidies for the time being.

India, the second-biggest wheat producer may need to double cheaper wheat imports from Australia and Ukraine as the nation’s bread and cookie maker’s demand for wheat seems to be rising day by day. Flour mills will have to import as much as 300,000 tons of wheat in the year March 31, 2011, compared with 158,000 tons last year, said M.K. Dattaraj, former president of the Roller Flour Millers Association of India. Premium quality wheat from Australia will make up most of the purchase he said.

Diesel is about 20 percent cheaper than gasoline in India. The end of gasoline subsidies may help diesel cars account for as much as 30 percent of nationwide sales within two years from less than 25 percent now, according to Surjit Singh Arora, a Mumbai-based analyst at brokerage Prabhudas Lilladher Pvt.

“India will move toward a better fiscal situation over a period of time, people will view it positively,” said Jitendra Sriram, who helps manage $800 million as head of equities at HSBC Asset Management (India) Pvt. in Mumbai. “There will be some rate action by the Reserve Bank of India, but it will come in the July policy announcement.”

Well many people will welcome  the new Standard and Chartered release of Indian depository receipts in the Indian market  , many may just see it a s a cash grab by standard an d chartered bank for  investment of money by the indian junta in thier  company. Those who like th Bank and  think they  can make some money by investing in them now have a more clear transparent way on investing in this global bank.

Standard Chartered launched its first ever Indian depository receipt (IDR) offering (May 25), closing on May 28. The bank issued 240 million IDRs, with every 10 representing one share of Standard Chartered. The IDRs were allocated at Indian rupee 104 each.

Standard Chartered derived 12% of its income from India in 2009. It has been present in the country for over 150 years, having opened its first branch in 1858 in Kolkata. India contributed $1.06 billion of the company’s $7.23 billion operating profit in 2009, ranking only behind Hong Kong.

So what is a Indian Depository receipt ?

As per the definition given in the Companies (Issue of Indian Depository Receipts) Rules, 2004, IDR is an instrument in the form of a Depository Receipt created by the Indian depository in India against the underlying equity shares of the issuing company. In an IDR, foreign companies would issue shares, to an Indian Depository (say National Security Depository Limited – NSDL), which would in turn issue depository receipts to investors in India. The actual shares underlying the IDRs would be held by an Overseas Custodian, which shall authorise the Indian Depository to issue the IDRs. ( ref: http://www.bankingindiaupdate.com/idr.htm)

How this works is , The foreign company IDRs will deposit shares to an Indian depository. The depository would issue receipts to investors in India against these shares. The benefit of the underlying shares (like bonus, dividends etc) would accrue to the depository receipt holders in India.

Stanchart  Indian Depository receiepts

Standard Chartered plc was the first foreign company to have publicly shown interest in making an IDR issue in India. The company is already listed on the London and Hong Kong stock Exchanges. Standard Chartered CEO Peter Sands is quoted in the Indian media as saying the "IDR listing (is) to enhance StanChart’s commitment to India.

India shares Investment

Peter Sands, group chief executive at Standard Chartered, said this will be the "anchor investor" portion of a $588 million IDR issued by the bank.

The IDR issue is the first of its kind for India. Like American or global depository receipts, which Indian companies can use to raise resources overseas, IDRs enable foreign companies to do the same in India. The IDRs will allow Standard Chartered to boost its market visibility and brand perception in India and will give Indian investors an opportunity to invest in the company and participate in its growth.

More information:

IDR issue Process

According to SEBI guidelines, IDRs will be issued to Indian residents in the same way as domestic shares are issued. The issuer company will make a public offer in India, and residents can bid in exactly the same format and method as they bid for Indian shares. The issue process is exactly the same: the company will file a draft red herring prospectus (DRHP), which will be examined by SEBI. The general body of investors will get a chance to read and review the DRHP as it is a public document, available on the websites of SEBI and the book running lead managers. After SEBI gives its clearance, the company sets the issue dates and files the document with the Registrar of Companies. In the next step, after getting the Registrar’s registration ticket, the company can go ahead with marketing the issue. The issue will be kept open for a fixed number of days, and investors can submit their application forms at the bidding centers. The investors will bid within the price band and the final price will be decided post the closure of the Issue. The receipts will be allotted to the investors in theirdemat account as is done for equity shares in any public issue.

What is the procedure to apply to an IDR?
The process is similar to an initial public offering where a draft prospectus is filed with the Securities and Exchange Board of India.

The minimum issue size is $500 million (around Rs 2,250 crore). IDRs will be issued through a public offer in India in the demat form and will be listed on Indian exchanges. Trading and settlement will be similar to those of Indian shares. 50% of the issue size is reserved for qualified institutional investors. Retail investors can subscribe upto 30% of the issue size. The minimum application size shall be Rs.20,000.

Links:

• Government of India
• Securities and Exchange Board of India
• Reserve Bank of India
• Issue of Indian Depository Receipts (IDRs), Reserve Bank Of India Official Website
• Australian Stock Blog
• Indonesia Stock Market IDX

You tube video in Indian depository receipts