Wednesday, October 31, 2012

The Race for Two-Million…

Milestones matter. Targets titillate. five years ago, who would have dreamt that an indian telecom company will have 100 million subscribers. twenty years ago, who would have imagined that an indian company will report annual sales in excess of rs. one trillion. inevitably, one auto company will cross the two million mark. pawan chabra analyses the favourites & the dark horses.

One may argue that when Maruti Suzuki (the market leader) is yet to touch the milestone of one-million unit sales in a fiscal year, even after 28 years of its existence; then reaching two-million units in a fiscal is too far a dream for automotive majors in the country. But with Maruti Suzuki strongly holding on to its eight products in the compact car category, Hyundai making India its export hub and Tata Motors’ Sanand plant getting operational (which will take the production of the much-talked about Tata Nano in full swing), experts believe that the automotive industry will grow like never before in times to come. In fact, the two-million mark will be a race where the winner will be able to claim fame in the last lap of the competition. As a matter of the fact, India is the 11th largest passenger car market globally, and is expected to be the seventh largest by 2016. Experts claim that compact car segment will be the one which will steer the winner successfully to this milestone. Though, one will surely have to wait for a time span of around 5-7 years before any of the giant reaches the two-million milestone. B&E dares to take a sneak peak into who will reach the two-million mark first in the Indian automotive industry?

When one goes back a little and takes a look at the last fiscal’s unit sales, Maruti Suzuki sold 7,92,166 units, which stood tall in front of Hyundai’s 4,97,425 units and Tata Motors’ 4,98,172 units. Maruti Suzuki perhaps is similar to what Valentino Rossi is to MotoGP in this race. In fact, one cannot deny that Maruti Suzuki is in a cushy position in the compact car segment selling close to five lakh units in the last fiscal as its counterparts were not able to match even half of the standards set and settling at 1,82,775 units for Hyundai and 1,35,637 units for Tata Motors. But there are many dark horses trying to vroom ahead in the fifth gear and the future may not be as comfortable as it seems for the market leader. In the words of Shinzo Nakanishi, MD, Maruti Suzuki, “We will not be launching a product in the ultra-low-cost car segment and our focus will remain the A1 and the A2 segment going forward.


Source : IIPM Editorial, 2012.

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Tuesday, October 30, 2012

Let’s not think ‘small & medium’

DSE’s SME exchange is worthy of applause, but they have to avoid becoming OTCEI

It was like a dream come true for many of the small and medium enterprise (SME) owners whom we came across when they heard that Delhi Stock Exchange (DSE) is planning to get back to business with focus on specialised services for SMEs (subject to SEBI approval). And why not, for this can provide them with a much needed platform to raise capital, their biggest problem so far in their vision for a dream enterprise.

But then, they should be warned by history. A similar concept was introduced in 1990, named OTCEI (Over-The-Counter Exchange of India). Today, it writes (very proudly) in its website, “As a measure of success of these efforts (introduction of screen-based nationwide trading, market making and scrip-less trading), the exchange has 115 listings.” Superb! 115 listings in 19 years. Perhaps, that’s why many don’t even remember that OTCEI still exists!

With a live example of disaster, why is DSE interested in setting up a SME exchange? Answers B. K. Sabarwal, Director, DSE, “A recent survey has revealed that 92% of unorganised enterprises in India do not receive financial assistance from banks or from any other source... An exchange is the best way to make them competitive.” Moreover, DSE is not only looking forward to the opportunity present in India’s 13 million (approx.) SMEs; it has adopted the model of London-based Alternative Investment Market (AIM)). Certainly a great idea, considering that it has 3,075 listings and raised $104 billion since its inception in 1995. But, only by following AIM, the job can’t be done successfully.


Source : IIPM Editorial, 2012.

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Monday, October 29, 2012

Rio = unrivalled revelry!

It’s time to explore the world’s fifth largest country – a land of magnificent rain forests, pristine waters, golden shimmering beaches and cultural wonders! Brazil is nestled between the nexus formed by the Equator and the Tropic of Capricorn, endowing it with wonderful climate and a vast variety of vegetation. The journey of exploring Brazil is so enriching that one’s imagination may fall short, but this wonderland would still have more to offer. Brazil’s history and cultural diversity can be experienced the moment one sets foot in this country, which was once a colony of the Portuguese and has been frequented and inhabited by natives from all over the world. Rio de Janeiro in Brazil is one of the most frequented cities of the world. It has peculiar powers of seduction and has several tools at its disposal to charm the visitor! Ranging from mountains covered with lush green trees to breathtaking white-sand beaches, Rio offers an opportunity to relax as well as indulge in adventure sports like rock climbing, sailing, hiking and more. Rio is also home to one of the Seven Wonders of the World – Christ the Redeemer.

Some other popular cities in Brazil are Sao Paulo and Salvador. Sao Paulo is the most culturally diverse destination in Brazil and is a short distance from Rio. An amble in the boulevards would give you a prelude to the insights of this mega-city. A relaxing visit from Rio to the untouched islands of Ilha do Mel or Ilha Grande would acquaint you with pristine stretches of coastline, which boast of sparkling azure waters. In the city of Santa Catarina, adventure seekers could cycle or go horseback riding via the Campo Grande in search of monkeys and capybara, or perhaps go whale-watching off the Santa Catarina coastline.
 

Source : IIPM Editorial, 2012.

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Saturday, October 27, 2012

A Ball by the Baltic

“Every leaf speaks bliss to me, fluttering from the autumn tree”, said Emily Bronte; and autumn in Jurmala is one time when this spa resort turns ‘golden.’ In this blissful golden forest, one could unwind and recuperate at will. Jurmala, quietly nestled near the Baltic Sea and amidst the famous continental European nations like Germany and Finland, is amongst the most fascinating Baltic destinations. Jurmala boasts of its National parks, awe-inspiring art and architecture, white sand beaches and beautiful boulevards perfectly suitable for soothing romantic walks.

Once in Jurmala, pamper yourself by visiting the wide range of spas available, and indulge in tempting curative massages. ‘Paradise city’, as Jurmala is also known, is well known for its hydrogen springs and a certain kind of mud, which has medicinal properties, very useful for massages and mud- treatments. If your idea of recuperation is some breathtaking adventure, then drive down to Sigulda and experience some skydiving simulation without the parachute. One doesn’t need to get on a plane and jump out of it; simply float in the air above gigantic ventilators in a vertical wind tunnel. But if your idea of a good day spent is exploring new places, then a visit to the city of Tukums is a must. It is a very short drive away from Jurmala and is better known as Latvian Hollywood! One could take props and don the army gear and pretend to fight the war in a battlefield, while making funny videos and taking hilarious pictures. Jurmala also offers its guests a glimpse of the late 19th century. In the vicinity are some wonderful old wooden homes and other buildings that display many decorative Art Nouveau details.


Source : IIPM Editorial, 2012.

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Friday, October 26, 2012

She came and she saw

Hillary Clinton visits India and tells Delhi that Barack Obama too is good for business

For a US Secretary of State, Hillary Rodham Clinton spent a substantial five days on her official tour to India. Her association with this country goes back to the presidential years when she came as First Lady and then returned later on private visits. In addition, Hillary has had close interactions with elite Indo-Americans organisations and individuals, some of whom have been her very prominent backers. Not surprisingly, this trip to India was her fourth.

The trip was designed to highlight the depth of ties and understanding between the US and India and had all the photo-ops that Americans know Indians love: a meeting with Bollywood icon Amir Khan, a picture of political correctness; and get together with tycoons and the impoverished in equal measure, all of which was great news as far as Indian TV channels were concerned.

In an address in New Delhi, she said that it was time for more people-to-people contacts between the two countries! Hardly. Such contacts that exist between the people of these two countries would scarcely have a parallel in the modern world: for example the US remains the most favoured destination for Indian students. In the last seven months, there has been a whopping 38% increase in the number of Indian candidates going to the US. The connection between the two civil societies is chronicled virtually every day in the media.

Says journalist Jeremy Kahn, reporting Hillary’s India trip, “ this hardly seems to be an earth-shattering policy announcement. In fact, it seems to be an extremely trite pronouncement. Her own schedule demonstrates that the US-India relationship long ago moved beyond formal diplomacy. So this should hardly have been billed as “a major address.”


Source : IIPM Editorial, 2012.

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Thursday, October 25, 2012

A Clinical Solution

Making registration compulsory for clinical trials will prevent the exploitation of medical research volunteers, for one…

The medical counterpart of the RTI (Right to Information) is here, and it has got teeth finally. Although the Clinical Trials Registry of India (CTRI) was launched by the Indian Council of Medical Research in July 2007, it’s only recently that the Drug Controller General of India (DCGI) ordained all clinical trials in the country to be mandatorily registered with the CTRI, with effect from June 15, 2009.

According to the World Health Organisation (WHO), “a clinical trial is any research study that prospectively assigns human participants or groups of humans to one or more health-related interventions to evaluate the effects on health outcomes.” Clinical trial research in the country, set to become a billion-dollar industry by 2010, is possibly helped to a large part by the fact of the nation’s sizeable population of the poor and diseased, but apparently there is more to it. Says Dr. Saurendra Das, Country Head & Director of Operations, Excel Life Sciences (ELS), “India has contributed to many US Investigational New Drugs (IND) over the last few years with highest number of enrollment, maximal retention and quality data; (there is) a competent investigator pool with access to large and diverse patient pool, trained support staff and recent modalities of diagnostic aids; proven and time-tested IT & ITES talent with experience in running state-of-the-art data management tools...”

Last month ELS, a US-based, India-focused clinical trial management organisation announced its partnership with PFC Pharma Focus, a Switzerland-based contract research provider, to launch PFC India as a full-service Contract Research Organisation (CRO), specialising in clinical monitoring and data management services.


Source : IIPM Editorial, 2012.

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Tuesday, October 23, 2012

‘Which’ hunt?

Iran’s done well as a democracy

Mahmoud Ahmedinejad is back on the seat of power, but victory celebrations have been dampened to an extent by a string of violent protests post the elections. The protesters, led by opposition party leader Mir Hossein Mousavi maintain that the election results were fraudulent. However, the authorities have ruled it out. While they admitted irregularities, they have maintained that they were not large enough to affect the landslide victory. So finally, he can afford to get back to business.

Global reaction has been mixed, though, and understandably so. Countries like India, China, Venezuela, Russia, Brazil, Sri Lanka and Pakistan (besides the Middle East) have appreciated and congratulated Ahmedinejad. Ironically, most of the western countries including the US, France, UK, Dutch were mute during the peaceful election and suddenly got into action as the violence spread.


Source : IIPM Editorial, 2012.

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Monday, October 22, 2012

...and facing a blinking dawn!

Nepal needs stability, but Maoists are having other thoughts

T he political crisis in Nepal is all set to be resolved after Maoist chief and caretaker PM Prachanda agreed to end the blockade of the Parliament. And now that Madhav Kumar Nepal is going to be the second PM, more stability can be expected in the beleaguered nation.

The formation of the new government led by the CPN-UML alliance was getting delayed because the Maoists, led by Prachanda had blocked the Parliament, protesting against President Ram Baran Yadav’s move to reinstate Army Chief General Rukmangad Katawal. The Maoists had promised to withdraw their protest as soon as the President rectified his move, but they changed their minds mid-way and stopped the blockade.

The Army Chief was sacked by Prachanda for resisting the integration of former rebels into the forces as decided under the 2006 peace deal. The standoff between the Army Chief and Prachanda had jeopardised the very existence of democracy in a country that achieved peace in 2006 after a decade-long insurgency.


Source : IIPM Editorial, 2012.

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Saturday, October 20, 2012

Bachelor’s park?!

Even as tigers disappear in the park, two tigresses are released into the minefield called Panna...

At a time when security of people is a burning issue in India, how can things be any better for creatures of the wild. As things stand today, it seems, we have learnt precious little from the disaster called Sariska. Barely three years since Sariska lost all its tigers, Panna has followed suit. Says conservationist Raghunandan Singh Chundavat, “There were evidences confirming presence of one tiger three months ago, but we don’t know if it still survives. Besides this male, Panna has lost over 40 tigers in the last six years.”

The loss of tigers is shocking but what’s ironic is that two female tigers from other parks were reintroduced in Panna without any consideration to their safety. It is also believed that the reintroduction happened in gross violation of standard procedures and protocol. Adds Chundavat, “First thing the authorities should’ve done was to radio-collar the male before bringing females. If this last male is lost there is very little future for the introduced tigresses. They will be roaming the Panna forest without a mate, until another male is introduced in Panna. Yes, in that sense I do agree that bringing females without securing the male was a “dumb move.”


Source : IIPM Editorial, 2012.

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Friday, October 19, 2012

Empires that didn’t strike back!

Due to their own faults, several Indian business families went down

They decisively lost their position of eminence in the transition. It was a pity, since their founders were icons in their own right – Sir Shri Ram (Shriram Group), Gujar Mal Modi (Modi Group), Vijaypath Singhania (JK Group), K. C. Thapar (Thapar Group), R.P. Goenka (RPG Enterprises), H. Mafatlal (Mafatlal Industries Ltd.), Ramesh Poddar (Siyaram Silk Mills Ltd.), Rajan Nanda (Escorts Group), R. K. Dalmia (GHCL Ltd.) and T. P. G. Nambiar (BPL). The onset of the 1990s was a harbinger for a changed business environment. Industrial licensing was abolished, foreign investment regulations were liberalised, corporate & personal income tax rates were reduced, quantitative restrictions on imports were reduced, restrictions on the size of firms were removed, domestic firms got freedom to raise capital abroad and excise & custom duties were lowered. This led to decline of many business families.

We discuss a few instances. Escorts, which was led by Rajan Nanda, suffered heavily with its new ventures, particularly telecom, where they expanded very fast but could not bring the numbers. Just before the economy witnessed liberalisation, R. P. Goenka entrusted responsibility of the RPG Group (which houses companies like CEAT Tyres, Dunlop, HMV & Spencers Retail) on his sons, who went for organisational restructuring.


Source : IIPM Editorial, 2012.

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Thursday, October 18, 2012

How the western recession is the real beginning of great news for India!

Arindam chaudhuri, editor-in-chief, Business & economy

Yes! Indeed the western recession is really the beginning of good news for India! But to understand that, I’ve to take you away from the topic of western recession for a while... to the Japanese recession! For years, I’ve admired the Japanese style of management as a management teacher and given its examples in scores of my workshops. However, over the last one decade or so, I’ve been continuously facing one key question from my workshop participants – mostly CEOs from top corporations of India Incorporated. Their question to me invariably has been, ‘If the Japanese management style is as wonderful as described, then why has Japan been in a recession for the last decade and more?’ This question is what I guess one needs to understand first, if one has to really understand the beauty of the current western recession. My answer to this question has always been very simple. I believe culture plays a very important part in shaping up economies. What succeeds in one culture fails somewhere else. Kenichi Ohmae, a famous strategy guru, wrote in his bestseller, The Mind Of The Strategist, that if you want to sell a new kitchen appliance to a Japanese housewife, you have to first enter a Japanese small-sized kitchen. And then, from the stacked kitchen appliances on the kitchen shelves, you have to tell her which one of them is to be thrown away to make way for the new appliance. Well, they are all excellent in quality. Long lasting. And tough to throw! And that’s why the Japanese economy has been in a recession for a decade now.

Because culturally, these Buddha lovers are basically non-materialistic. And however much rich they become, unlike Americans, they cannot just keep throwing and buying endlessly. And once they have almost everything they need, there is a saturation point. After this point, there are primarily three kinds of demand. Replacement demand, new product demand and FMCG demand. And that can’t keep giving an economy a double digit growth rate! Add to that Japan’s rapidly aging population and negative population growth rate (the Japanese Ministry of Health forecasts that even till 2050, they won’t have a positive population growth rate). That’s exactly what happened with Japan.


Source : IIPM Editorial, 2012.

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Wednesday, October 17, 2012

The secret of the Unicorn!

No surprises; it’s nationalism and not globalization that has created great nations over the years

Last month, the Obama Administration made it clear in no uncertain words that the companies which are recipients of money under the Troubled Asset Regulation Program (TARP) as part of the financial stimulus package will have to abide by the new restrictions imposed on outsourcing of work to destinations like India. For many in India, it was nothing but an obnoxious move on the part of a dogmatic Obamasque US administration seeking the easiest (but definitely counter-effective in the long run) way to fix the problems of the US economy rather than dealing with the real structural problems plaguing it. Intriguingly, however much one might criticise Barack, the reasons for which Obama has taken this path are the same that come into play when Indians or Chinese thump their chests when companies of their country’s origin go out and handsomely acquire a US or a Europe based company. The string that binds both Barack and us is fanatic economic nationalism, for our respective countries of course. Quite some time since the homo sapien race decided to exit forests and to materialize the concept of society, the concept of ‘he’, ‘his’ people and ‘his’ land have always been more important than ‘they’, ‘their’ people and ‘their’ land. Evidently, this philosophy hasn’t changed much till date. So, from the era of hostility between Sparta (present day Greece) and Troy, when Achilles decided to fight for his bête noire Agamemnon, the Spartan king, because Spartan ‘pride’ was at stake, to the era of the British, French, Dutch and Spanish empires, when they often fought prolonged and violent battles keeping imperial interests in mind, it was all the same nationalistic fervour in play.

In fact, the time-line between the beginning of the First World War and the end of the Second World War and furtheron after it, has been the most intriguing period in terms of the transformation of nation states into nationalistic states. While four established empires – namely Russian, Ottoman, German and Austro-Hungarian – were washed away by the tides of the First World War, this period also witnessed the emergence of the violent form of ethnic nationalism which almost destroyed the world with the rise of the German Nazis and their fanatic obsession with the obliteration/subjugation of Jews and in fact anyone who – according to them – was not a pure Aryan.


Source : IIPM Editorial, 2012.

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Tuesday, October 16, 2012

A few billions less...

Indian business owners have been among the worst hit this year

The cat is out of the bag, while many Indian tycoons would have wished it stayed inside! While they have hitherto been shouting from the roof tops that the global meltdown has not impacted their enormous wealth; the testimony to that – the Forbes World Billionaires list, elucidates just the converse. Out of the total 53 Indian moguls who made it to the list last year, only 24 could hold on. Mukesh Ambani, who slipped two positions down, surpassed the steel magnate Lakshmi Mittal (currently at number 8, was at number 4 last year) and sat perched at the fifth slot as richest Indian with net worth of $19.5 billion.

Anil Ambani, the biggest gainer in 2008, was the worst hit this time, after losing $31.9 billion in net worth. At the 34th position, his current fortune stands at a relatively modest $10.1 billion. Says Hitesh Agrawal, Head of Research, Angel Broking, “His (Anil Ambani’s) fortunes are directly correlated to the stock market... recovering all the lost sheen in 2009 for ADAG Group seems unlikely.” While Lakshmi Mittal saw his personal fortune dwindling from $25.7 billion in 2008 to mere $19.3 billion in 2009; DLF’s K. P. Singh, too, witnessed his wealth being gnawed down by $25 billion.


Source : IIPM Editorial, 2012.

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Monday, October 15, 2012

No ‘auto pilot’ can work here

Stability at the top management level is the need of the hour for Jet Airways in the financial slump

Turbulent weather, expert pilots needed, and only the best will do. Considering that the Indian aviation sector is going through one of its most critical and painful periods, the change of guard at the helm of Jet Airways is quite significant. A major domestic player of the Indian aviation sector, Jet Airways has recently witnessed a change of guards at the top of its management. And looking at the turbulence in the sector thanks to declining air traffic, mounting input cost et al leading to the bleeding bottom-lines and uninspirational top lines, it becomes all the more important to ensure that the baton is now given in safe hands.

Naresh Goyal’s private carrier Jet Airways’ group CEO Ravi Chaturvedi has put down his papers after serving the airline for only four months (Chaturvedi had joined Jet Airways in October last year after serving FMCG major Procter & Gamble). It cannot be more wrongly timed as the player, who was once the largest private carrier in the market (dethroned by Vijay Mallya’s Kingfisher Airlines), is reeling with the recent Rs.2.14 billion losses in the quarter ended December 2008. This forced the airline major to ask its senior officials to accept salary cuts. It was also forced to close down services to three of its major loss-making international routes (Amritsar-London-Amritsar, Bombay-Shanghai-San Francisco and Bangalore-Brussels) and has also unveiled plans to lease four wide-body Boeing 777 aircraft, coupled with phasing out of three Boeing 737 planes. Were these the actual reasons behind Chaturvedi stepping down from the helm? “The current financial standing of the company has got nothing to do with the resignation of Jet Airways group CEO Ravi Chaturvedi. He has resigned from the company, citing personal reasons. Chaturvedi and his family desire to return to the US,” clears a spoke-person of Jet Airways to B&E.


Source : IIPM Editorial, 2012.

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Saturday, October 13, 2012

In the name of the holy spirit...

World politics and religion are as intertwined as Barack Obama to his advertent (?) omissions; a brief phenomonological debate

Religious-political lobbying is not a new phenomenon, be it from the time of the crusaders, holy wars, World Wars or the latest war on terrorism; every time the world took momentous political decisions, lobbyists were actively present to influence governments in the name of their fathers, the sons and all the holy spirits available. Closer in time, if the current US President, Barack Obama, in his most historical inaugural address talked about secularism and specifically orated, “We are a nation of Christians and Muslims, Jews and Hindus – and non-believers,” it will take an extremely blind (or forgiving) phenomenologist to ignore the deliberate skipping by Obama of Buddhists (listed by CIA as being more in the US – 0.7% of US population – than Muslims, 0.6%), Unitarian Universalists (listed by US Census as being almost equal to the number of Hindus; 0.3% versus 0.4% respectively) and of many other registered religions. On the side of Martin Heidegger’s caution, if Obama’s considerate renunciation of all ‘other’ religions to the ‘non-believer’ category is only to be considered an expansive mistake, one believes it was quite a deliberately appropriate time to make it, given the global audience that was lapping it all up.

Freedom of religion in the US is considered to go hand in hand with Thomas Jefferson’s concept of separation of church and the State, which he enshrined in The First Amendment, which states “Congress shall make no law respecting an establishment of religion,” and that neither can it prohibit the practise of any religion. But the honeymoon of religion and politics seems to never get over as many of America’s leaders have almost conspiratorially nurtured the same completely against The First Amendment.

The question is, if Jefferson’s clear ‘Wall’ between the State and the church was supposed to have been maintained very clearly and publicly, then where does one draw the line when US leaders naughtily flirt around with paradoxical religio-political issues? The previous President George W Bush, in his State of the Union address, not only renewed a call for Congress to materialise his “faith-based proposals” that would allow religious organisations to compete for more government contracts without strict conditions, but also attended a papal funeral. What’s so strange in that? In US history, he was the first sitting US president to do so (for example, even Pope John Paul I’s funeral was attended by Carter’s mother, not James Carter). Bush even met John Paul II to insist the Pope persuade US bishops to criticise Kerry’s policies on various Catholic-sensitive social issues.


Source : IIPM Editorial, 2012.

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Friday, October 12, 2012

Miles to go before I...

Nitish Kumar has become Bihar CM after a long fight and wait, he is now campaigning for a second term

“This is the time for change and to get the best out of it, we will have to wait.” These are the words of Nitish Kumar, the Chief minister of Bihar, who was talking to people during his Vikas Yatra in Bihar. He promises to effect tremendous positive change in the state, which until now has been suffering from poverty, lack of education and other administrative faults.

A product of JP Revolution, Nitish had to keep a devil’s patience before taking on the helm of affairs in Bihar. An Electronics engineer by profession, Nitish’s political career started when he joined the student revolution first in 1974 and then in 1977, when he was sent to jail under MISA. A strong and patient man, it took Nitish longer than his contemporaries Ram Vilas Paswan and Lalu Prasad Yadav, who had joined the politics during the same period. But in 1985, when Nitish first reached the Bihar Assembly, he never looked back. In 1988, he became the General Secretary of Janta Dal. In 1989, he became the member of Lok Sabha for the first time and the Union Agriculture Minister in 1990. He also became MP in 1996 and 1998 from Janta Dal, not just as a political leader but also as a leader. But it was only when he defeated his colleague and Dalit leader Ram Vilas Paswan and became the Railways Minister in the Vajpayee government, that his real abilities as a politician came in the limelight. For Nitish, who wanted to go up in the political ladder, this was a God-sent gift which he capitalised on to the fullest. When he became the CM of Bihar in 2005, it had begun a totally new chapter in his life.
 

Source : IIPM Editorial, 2012.

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Thursday, October 11, 2012

Another ‘Modi’s operandi

Satyam is an attractive buy, but Modi has to be careful about how he values his latest acquisition target

Did your stock broker try to assure you recently that investors at the bourses are a rational lot? And have you felt the deep urge to trust his instincts on the same? If so, you would be unaware of of the way Spice Communications’ stock soared massively by 68.9% to touch Rs.80.65! The reason was ebulience of investors with respect to Spice Corp. Chairman B. K. Modi’s latest bid to acquire 51% of Satyam Computers. Now that would be perfectly rational, barring the minor detail missed by these investors; that Modi has nothing to do with Spice Communications ever since he sold off his stake in the company to Aditya Birla owned Idea Cellular!

Now that we have pulled the ‘rational’ carpet under your feet, allow us to analyse the rationale of Modi’s new found interest in the disgraced Satyam. Spice’s current investments in Multi Screen Media, Spice Cinemas and mobile retail wing HotSpots do not offer much synergy with Satyam. At the most, they have a BPO, which would get a massive shot in the arm! Speaking exclusively to B&E, Modi reveals, “Yes, we are interested in taking charge of Satyam and have presented a formal bid to acquire 51% stake and would name the new company Spice Innovations.” In June 2008, Modi had sold off his stake in Spice Telecom for Rs.22 billion and was looking at acquiring a company with global scale.


Source : IIPM Editorial, 2012.

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