The month that was - November 2012: Blog # 65

The month that was - November 2012

*A monthly column on Business & Rest

                The month of November witnessed two leadership changes of prime importance in the world – US chose Barack Obama for a second term and Xi Jinping (President) and Li Keqiang (Premier) chose China for the next decade.

            Meanwhile, we as a country went back in time, at least a couple of decades when two girls were arrested for innocuous comments on the backdrop of Maharashtrian leader, Bal Thackeray’s death. But thankfully, action was taken against the police officers and amendments are being suggested on the InfoTech act.

A national daily aptly reported Ajmal Amir Kasab’s hanging as “A puppet’s life ends on a string”!

In a rarity, the Government seems to be resolute about ‘Cash transfer’ project which transfers cash in lieu of subsidized food, fertilizer and fuel for BPL families. Also the much delayed PSU disinvestment has been kicked off with Hindustan copper stake sell off.

Although the King of Good times, Vijay Mallya sold a controlling stake in United Spirits Ltd to the Global Spirit major Diageo there appears no respite for the employees of his stalling airline. At the same time, Middle East airline, Etihad has expressed interest in Jet airways and Spice jet is being courted by Qatar airways.         

The ugly face of corruption in the higher echelons came to the fore when Bharti Walmart initiated an enquiry in to the bribery involving their top notch executives.

The Impasse being cleared over the FDI bill brought cheer in the secondary market. The fact that Goldman Sachs projected an optimistic outlook (from ‘market-weight’ to ‘overweight’) helped too.

The diversified conglomerate, Mahindra & Mahindra has made an ambitious bid for stake in the iconic British car maker, Aston Martin.

The multiplex chain, PVR has bought out a 69% stake in Cinemax for Rs. 395Crores.

In yet another international acquisition by an Indian group, Sahara bought Newyork plaza and Dream Newyork hotels for Rs.4400Cr amidst Indian hotel group’s failed bid for Orient Express hotels Ltd.

Azim Premji headed Wipro demerged itself in to IT and Non –IT entities as part of their strategic management plan.

Magzter, an application developed by Indians has featured as the top grosser of Apple ipads app across Asia.

            In a market of gloom and uncertainty, IKEA’s investment proposals being cleared and Unilever CEO , Paul Polman’s opening an R&D centre in B’lore are indeed welcome respite.

                                                                                                                                                                Arun Babu.

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