1

TheTheThe Entrepreneurs’Entrepreneurs’Entrepreneurs’

ExpressExpressExpress MONTHLY MAGAZINE OF THE EMONTHLY MAGAZINE OF THE EMONTHLY MAGAZINE OF THE E---CELL, VNITCELL, VNITCELL, VNIT

2011 DECEMBER

Wedding BazaarWedding BazaarWedding Bazaar The big fat Indian WeddingThe big fat Indian WeddingThe big fat Indian Wedding

Analyzing OutsourcingAnalyzing OutsourcingAnalyzing Outsourcing What It Means For the AmericansWhat It Means For the AmericansWhat It Means For the Americans

Bangalored and BeyondBangalored and BeyondBangalored and Beyond The Life and Times of Narayana MurthyThe Life and Times of Narayana MurthyThe Life and Times of Narayana Murthy

2

Design Coordinator: Pratik Das

Content Editor: Ankur Mathur

Content Coordinator: Sanchit Agrawal

Stock Market Analyst: Vedant Bang

(Anish Kumar for Shadow)

The The Entrepreneurs’ Entrepreneurs’ ExpressExpress

The Entrepreneurship Cell VNIT,

Nagpur is an initiative of some vi-

sionary students of India. It was

established with a noble aim of re-

ducing the industry-institution di-

vide by making the rift, seem that

lesser. Thus would be done by mak-

ing the interaction between the two

parties for viable through in-

creased frequency and taking effec-

tive measures to continue to foster

a healthy relationship between

them.

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Cover Page: Creations for bride, prêteCover Page: Creations for bride, prêteCover Page: Creations for bride, prête---aaa---porter. porter. porter.

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Something

AWESOME

is happening at The

Entrepreneurs’ Ex-

press. To find out,

await the

January 2012 Edition.

3

The Wedding Bazaar…

The Editorial 4

Analyzing Outsourcing

Monthly Feature 6

Juggling Jargons………..

Cost Effective Analysis 8

Bangalored & Beyond..

Narayan Murthy 9

The Abstract Noun…….

‘Poor’ State Of Mind 11

A Do It Yourself Test..

Harvard Business Review

Feature

13

The Stock Souq………….

The Market Analysis 14

Express Times……………

E-Cell News 15 C

on

ten

tsC

on

ten

tsC

on

ten

ts

4

The Wedding Bazaar

The Wedding Bazaar

The Wedding Bazaar

-- Ankur MathurAnkur Mathur

5

Films have eulogized them and priests

have solemnized them from ages – they have

been ‗in‘ season all year round and found con-

junction with ‗holy‘. Yes, this is matrimony! We

Indians love our big fat weddings which start

beautifully but end up almost sickeningly gran-

diose sometimes…actually, most of the times.

But, who‘s complaining so long as they keep the

demand high and consumption going! Welcome

to the Wedding Bazaar.

It has all that

drives a nation – all in-

dustries find ample rep-

resentation here. From

food to fashion, lighting

to logistics and gifts to

grooming, there is not

one thing lest out from

the platter! And this is

the time for it. As the

year turns over a new

leaf, several couples seal

their bond of love, and

how!

Statistics show that Indian consumer pat-

terns are driven by such occasions like marriage

and these days, outsourcing of marriages has

become commonplace in places like Delhi,

Mumbai and Bengaluru though Kolkatans are

still to shed their cultural skin. This has led to

the rise of a new element in weddings – the

wedding planner. Part management, part pas-

sion and full fun, this business is on the rise and

is contributing to a large chunk of investment in

modern nuptials.

Economically, this means that there is

more liquidity in the market as more transac-

tions take place. Spending more will also im-

prove the quantity of loans taken for marriages

thereby leading to the conclusion that everyone

linked with the industry gets paid better (trickle

down effect) eventually driving consumption on

all fronts. So long as the legs of consumerist

capitalism spread, the giant of economy will

rise. No longer are Tahilianyi‘s and Abu-Jani

creations looked at with awe, buying demands

have brought everything

within reach. It‘s the

credit card age, with

availability restricted

only by thought.

But with inflation touching double-digits and the economy slow-ing down to the lowest in nine quarters, can the neo-Indian still afford high flying weddings? ―Of course, yes!‖ says the CII Board report. Indians true to their

blood seldom cut spending on three things, it says, ―marriages, food and school education, especially of the male child.‖ So, this is not no bubble! It‘s here to stay and grow. With ‗destination weddings‘ as the next thing on the cards, Indian wedding extravaganza is all set to hit the aviation and tourism sector out of a lull too! The maharaja finally gets a sigh of relief.

||Namo Namah||

Here‘s wishing all our

readers and patrons, a

very happy and

prosperous New Year.

AD 2012

The Eternal Bond of Love

6

At the brink of dusk in the ‗East‘ people with a 9 – 5 job head home and a fresh set of employees enter the work space with the main operation base and the employer seated somewhere in the ‗West‘. This is outsourcing put at the simplest level of understanding. Even though globaliza-tion has given a great impetus to the pockets of American classes but is not having a fruitful ef-fect on the masses.

A BPO (Business Process Outsourcing)

can be called the most successful venture in the

outsourcing market. An American company

launches a national product/service catering to

the masses. After the launch of the product, the

company‘s main objective shifts to the mainte-

nance provision. A lot of money has already

been pumped in for the setup, production and

marketing of the product. At this point of time,

if they have to chip in proportionate amount of

cash for the maintenance then their net profit of

the product is bound to dip and the output of

the whole operation will be nil virtually.

WHAT‘S THE SOLUTION? WHAT‘S THE SOLUTION? -- OUTSOURCINGOUTSOURCING

Locate a developing tech-savvy city, in

our case ‗Bengaluru‘. Setup an operational base

for long – term usage. Pump in a nominal

amount of cash. The difference in the currency

exchange rate plays a vital role here. A U.S. na-

tional rings up a call center here. The problem

is worked upon and sorted out in a matter of

few hours and in case of complications a few

days. Even after accounting for all these invest-

ments, the company enjoys a large profit mar-

gin. Hence, they have no qualms in offshore in-

vestment. The meteoric rise of cities like Benga-

luru, Noida, Shanghai, Guangzhou and many

others can largely be attributed to these opera-

tional units set up by these business magnates.

The consequences of the acts for profes-

sional interest of the corporate houses have to

be borne by the working class. Since a large

number of jobs are being shipped off, it is creat-

ing a dearth of employment opportunities and

is hitting the American masses hard.

Now, let us shift our focus to the tech-

nical aspect of outsourcing, i.e. how did it come

into existence and more importantly effective

usage? It won‘t be wrong to credit technological

innovation for the stupendous growth of the

outsourcing sector in a time frame of less than

two decades. The development of technology is

being carried out on a regular basis, but its ori-

entation is only towards offshore investments

and an economic output in this regard. If this

scientific harvest can nurture a seed (a small

city) into a large evergreen self-sustaining tree

(a metropolis) then why can‘t proper channel-

ization of these thoughts work wonders in the

job sector?

This is illustrated by a recent paper by

Michael Spence and Sandile Hlatshwayo, both

of New York University.

The real problem for America is not its innovative capacity, but the fact that its benefits go to relatively few. They divided jobs among tradable and non-tradable sectors. Tradable sectors include manufacturing, commodities and services such as finance and engineering that compete globally. Value-added per person, a proxy for productivity rose sharply in this sec-tor, but the number of jobs actually declined be-tween 2000 and 2008. The opposite was true in the non-tradable services such as government

Analyzing Outsourcing Analyzing Outsourcing Analyzing Outsourcing For The AmericansFor The AmericansFor The Americans

-Akash Shembekar

7

and health care. There real value-added rose only sluggishly, but employment expanded sig-nificantly. Behind this, says Mr. Spence, is the trend of American multinationals to keep the highest value-added activities at home while shifting lower value-added activities, such as manufacturing, abroad.

As the highest value-

added activities are retained

for American nationals, it

will benefit only a small

number as the paycheck

needs to be heavy, but what

about the remaining large

section that does not have

any other avenue of in-

come…?

So a natural thought

instigated in the human in-

tellect is that technological

innovation is the key force

which will cater to the job

needs of the people and its

primary initiative should be

to subsidizing the cost in

manufacturing so that a

large section of the unem-

ployed be accommodated

here. But as every institu-

tion have various facets and this being no ex-

ception, it would be a necessity to consider it as

well and in this regard I provide a case study.

This case study by Steve Hsu, Professor

of physics at the University of Oregon reflects

on the mutual dependence of the two entities of

outsourcing and innovation.

Imagine a new software product. A super

-version of TurboTax, the software asks detailed

questions via the Web and can prepare sophisti-

cated returns - not just for individuals, but even

for large corporations. The cost is a fraction of

what U.S. accounting firms would charge for the

service. Sounds great, right? Artificial Intelli-

gence lowers the cost of doing business. Compa-

nies can pass the savings on to consumers.

Some accountants lose their jobs, but that is the

inevitable price of technological progress.

Now suppose you find out the guts of the

software isn't an AI engine, but rather an office

full of Indian chartered accountants in Banga-

lore. The cost savings is still real, and the fees

now go to stimulate the developing Indian econ-

omy, rather than

into the pocket of

a software entre-

preneur.

Why is

this se-

cond outsourcing scenario any worse than the

first innovation scenario? Let us see why the

first situation will play well along with the cur-

rent U.S. economic position. The AI which sup-

ports the software is not absolute and will also

require maintenance, improvement and restruc-

turing. These will definitely open new job ave-

nues and cover up for the loss of the jobs of few

individuals. So isn‘t it better in all contexts to

root for innovation in America.

All the facts accounted, lead to the sole solution

that innovation of technology is the only inno-

vative offering that can harbor the sinking

American job sector and push it on the path of

sustenance and provide the thrust to survive in

the long run.

Best of luck, Mr. Obama!

8

By volume of pills produced, the In-

dian pharmaceutical industry is the

world’s second largest after China.

As discussed in the earlier edition, Cost Benefit

analysis compares the monetary values of costs

and related outcomes of two or more courses of

actions. This is the most commonly used form

of economic analysis when the effects can be

measured in terms of monetary values, but in

cases when money cannot be the measure of ef-

fects, this technique is modified in a way to ac-

commodate a different unit. The modified tech-

nique is known as cost effectiveness analysis.

Cost-Effective Analysis is often used in the field

of health services where it is inappropriate to

monetize health effects. CEA is expressed in

terms of a ratio where the denominator is the

health effect (years of life, number of people in-

oculated, etc.) and the associated cost forms the

numerator. The commonly used outcome meas-

ure is Quality –Adjusted Life Years (QALY).

Cost Effectiveness is applied to the planning

and management of many types of organized

activity. In acquisition of military tanks, com-

peting designs are compared not only for pur-

chase price, but also for such factors as their op-

erating radius, top speed, rate of fire, armor

prot ect ion, and ca l iber and ar-

mor penetration of their guns. If a tank's perfor-

mance in these areas is equal or even slightly

inferior to its competitor, but substantially less

expensive and easier to produce, military plan-

ners may select it as more cost effective than the

competitor. Conversely, if the difference in price

is near zero, but the more costly competitor

would convey an enormous battlefield ad-

vantage through special ammunition, radar fire

control and laser range finding, enabling it to

destroy enemy tanks accurately at extreme

ranges, military planners may choose it in-

stead—based on the same cost effectiveness

principle.

Cost effectiveness analysis is also applied to

many other areas of human activity, including

the economics of automobile usage and phar-

maco-economics. Thus CEA is a very important

economic analysis for various industries.

COST EFFECTIVE ANALYSIS -SANCHIT AGRAWAL

Juggling Jargons

9

---Amit PillaiAmit PillaiAmit Pillai

Ever wondered how India became a lead-er in the IT sector? It was due to the birth of IT giants like Infosys, Wipro and Satyam. Infosys Technologies in particular is one of the few In-dian companies that have changed the way the world looks at India. No longer is India a land of snake charmers and beggars. It is now per-ceived as an economic giant to reckon with, bursting with brilliant software engineers and ambitious entrepreneurs. And Infosys is a sym-bol of India's information technology glory.

Infosys was the ‗brain-child‘ of one of the most popular and successful business tycoons of India, Mr. N. R. Narayana Murthy. Nagavara Ramarao Narayana Murthy better known as N.R. Narayana Murthy is an Indian industrialist and software engineer. Mr. Murthy was born into a Kannada Madhwa Brahmin family in My-sore, Karnataka on August 20th, 1946. Mr. Murthy graduated with a degree in electrical engineering from the National Institute of Engi-neering, University of Mysore in 1967. He re-ceived his master's degree from IIT Kanpur in 1969.

Murthy then joined IIM Ahmedabad, where he worked as the chief systems program-mer. However, the entrepreneur in Murthy stayed restless and in 1976, he started a compa-ny named ‗Softronics‘. The company never sta-bled and this failure was followed by Murthy joining Patni Computer Systems in Pune. It was in Pune that Murthy met his life partner, Mrs. Sudha Kulkarni (Sudha Murthy), an engineer at Tata Engineering and Locomotive Co. Ltd. (Telco) in Pune. Mr. Narayana Murthy tied the marital knot on February 10th, 1978. It was Sudha Murthy who provided the initial capital for the birth of Infosys. An amount of Rs.10000 served as the starting cost of building the giant company. The idea of Infosys was born on a morning in January 1981. Six months later, In-fosys was registered as a private limited compa-ny on July 2, 1981. Infosys co-founder N S

Raghavan's house in Matunga, north central Mumbai, was its registered office. It was then known as Infosys Consultants Pvt. Ltd. The front room of Murthy's home was Infosys' first office, although the registered office was Raghavan's home. Mr. Nandan Nilekani, Mr. N. S. Raghavan, Mr. S. Gopalakrishnan, Mr. S. D. Shibulal, Mr. K. Dinesh and Mr. Ashok Arora together with Murthy started and mentored In-fosys.

In 1983, Infosys moved to Bangalore when it got its first client, Data Basics Corpora-tion from the United States. There was no luxu-ry, only struggle, day and night. They had no car, no phone. Murthy later recalled that it was not the luxuries of life, but the passion to create something new and innovative those made them keep going on and on and on. The first years of Infosys were not smooth. Infosys got its first joint venture partners in Kurt Salmon As-sociates. But the joint venture collapsed in 1989, leaving Infosys in the lurch. The company was on the verge of collapse. The founder-partners did not know what to do. But Murthy had the courage of conviction. 'If you all want to leave, you can. But I am going to stick (with it) and make it,' Murthy told them. The other part-ners decided to stay. And thus began to germi-nate the seeds of Infosys' enormous growth. To-day, Infosys is the largest publicly traded IT ser-vices exporter in India. It was the first Indian company to list on the NASDAQ stock exchange in 1999. The company has over 53,000 employ-ees worldwide. Today, Infosys is India's second largest software exporter.

N. R. Narayana Murthy founded Infosys in 1981. Under his leadership, Infosys was listed on NASDAQ in 1999. He is an IT advisor to sev-eral Asian countries. He serves on the boards of many well-known firms. He served as a member of the Unilever board between 2007 and 2010. The Economist ranked Narayana Murthy among the ten most-admired global business

10

leaders in 2005. He topped the Economic Times list of India‘s most powerful CEOs for three con-secutive years from 2004 to 2006. He has been awarded the Padma Vibhushan by the Govern-ment of India, the Légion d’honneur by the Government of France, and the CBE by the Brit-ish government. He is the first Indian winner of the Ernst & Young World Entrepreneur of the Year award and the Max Schmidheiny Liberty prize. He is a Fellow of the Indian National Academy of Engineering and a foreign member of the US National Academy of Engineering. N. R. Narayana Murthy is synonymous with In-fosys.

He served in various capacities within the organization and was for long perceived to be the driving force behind Infosys. In 2002, Murthy took on the role of Executive Chairman of the Board, giving way to Nandan Nilekani – a co-founder of Infosys – to become the CEO. In 2006, Murthy became non-executive Chairman of the Board and Chief Mentor at Infosys, before stepping down and becoming Chairman Emeri-tus in 2011. Murthy stepped down as the non-executive Chairman of Infosys in 2011, finally bringing to an end his 30 year long stint with the company. Murthy is now involved with a venture capital firm called Catamaran Invest-

ment Private Ltd.

Murthy is much-admired for his simplic-ity and down-to-earth nature, besides being re-spected for his strong leadership skills. Father to Akshata and Rohan Murthy, Mr. Narayan Murthy today enjoys a successful married life. ―Murthy's dreams encompassed not only him-self but a generation of people. It was about founding something worthy, exemplary and honorable. It was about creation and distribu-tion of wealth. So, when I had to choose be-tween Murthy's career and mine, I opted for what I thought was a right choice.‖ replied Sudha Murthy when asked about the reasons for sacrificing her ambitions for Murthy‘s. Mr. N. R. Murthy not only led Infosys to glory but created a new revolution in the IT sector in In-dia.

―In conclusion, keep in mind two San-skrit sentences: Sathyannasti Paro Dharma (there is no dharma greater than adherence to truth); and Satyameva Jayate (truth alone tri-umphs). Let these be your motto for good cor-porate leadership‖, says Narayana Murthy in The Essence of Leadership as it originally ap-peared in The Smart manager. Murthy ob-serves, "LOVE YOUR JOB BUT NEVER FALL IN LOVE WITH YOUR COMPANY!"

There are only 5 currencies in the world that have

unique symbol to represent them. These are US

Dollar, Japanese Yen, Great British Pound, Euro

and Indian Rupee . Of these, only the GB Pound

sterling has its symbol printed on the notes.

Credit card numbers conform to the Luhn Algorithm ,

which is just a simple checksum test on the number. What

you do is start from the right and double each second digit

(1111 becomes 2121), then add them all together, and you

should end with a number evenly divisible by ten. If it

doesn’t, it’s not a valid credit card number.

11

The The The

Abstract Abstract Abstract

NounNounNoun ---Abhirup LahiriAbhirup LahiriAbhirup Lahiri

Poor State of MindPoor State of MindPoor State of Mind

12

The widely used ‘$’ symbol, which is used to

represent US Dollar, doesn’t appear on US

currency at all. And, you would have to double

-fold it about 4,000 times before it would tear.

Poverty is a multi-faceted problem which has

gripped the world today. It is most erroneously

and ignorantly understood solely as a state of

economic inconsistency which unfortunately

vanquishes the living if not lives of the ill-fated

few.

Economic inconsistency is understood as a pos-

sible inability to live a confident life where pro-

curing bare necessities is also an arduous task.

The capitalist economy is an extremely egoma-

niacal system and poverty, though being a cause

for grave concern, is not heeded to in an apt

manner. It is perceived as a problem in econom-

ic terms only and humanitarian grounds are

overlooked in the quest for profit-oriented eco-

nomic growth. The humungous psychological

turmoil that the deplorable, afflicted lot under-

goes is much graver than their economic en-

cumbrances. Even their meagre ambitions are

crushed under the weight of the capitalists who

are most capricious and parsimonious within

their own interests. It is only the humane few

who are concerned, but only a miniscule per-

centage of them are competent and accom-

plished enough to make a difference.

The second aspect of poverty is that it is a state

of mind of the discontent individuals who yearn

for the good rather than the useful and thereby

perceive their income as capital. This prevents

them from leading a radiant if not secure life. A

persistent desire for more, more often than not

the unachievable, has become commonplace

among the urbanized neo-rich individuals. Peo-

ple compete with others in terms of economic

prosperity and then with themselves, only to

lead to poverty of the mind. Discontentment

leads to vexation and this stressed, exasperated

mind travels inroads into the conscience and

thus people eventually cross the barriers of hon-

esty. Desire is their biggest sin and discontent-

ment their form of poverty.

There is a third and final aspect of poverty

which relates to philistinism and superstition.

Belief in the Almighty is common among the

weak that are not presumptuous enough to

tread the path of success. Blind faith in the Al-

mighty about every aspect of life shows a certain

weakness and meekness of character and lack of

self-belief. The Almighty, in my opinion, can or

should be beckoned only in case possibility per-

vades human capability. This kind of submis-

sion to fate is an evident fallout of illiteracy and

unintelligence. These people who live in the

gloom of submission are also gripped with pov-

erty, that of lack of ideological dexterity and in-

trepidity of character.

Poverty is nothing less than a disease, a handi-

cap, a disarmament which hampers clairvoyant

ambition and is a major cause for economic and

psychological frailty in the world today. In fact,

if urgent measures are not eked out soon, the

world today will never be able to tread the path

of inclusive growth and a reclusive economy can

never reach the zenith. Not only the first and

most important one, but also the other two as-

pects of poverty need to be heeded to and the

advent of communist ideologies is the only hope

for a renaissance of human consideration as we

step into the era of using income fuels. The

world today is witnessing change and if the in-

habitants don‘t live up to them, we are heading

towards the fearful proposition of the Mayas, if

not in 2012 but surely sooner than later.

13

In this article taken from the Harvard Business

Review, we try and give you tips to contem-

plate better on starting a new venture. Answer

these questions and look up for the aim behind

each one to understand their inherent im-

portance and you could well be on your way to

becoming the next big thing in the market.

Courtesy: Harvard Business Review.

1 What are you best at doing?

It is amazing how many people spend

years trying to get good at what they‘re bad

at instead of getting better at what they‘re good

at.

2 What do you like to do the most?

This is not always the same as the previous

question‘s answer. Unless it‘s illegal or bad

for you, do what you like to do. If it‘s also pro-

ductive and useful, it ought to be your career.

3 What do you wish you were better

at?

Your answer may guide you to a course you

should take or a mentor you should work with.

It may also indicate a task you should delegate.

4 What talents do you have that you

haven’t developed?

Please don‘t say none.

5 Which of your skills are you most

proud of?

This often reflects obstacles you‘ve overcome.

6 What do others not as your greatest

strength?

This question helps you identify skills you may

not value because they seem easy to you.

7 What have you gotten better at?

This gives an idea of where putting in addi-

tional effort can pay off.

8 What can you just not get better at

no matter how hard you try?

This tells you where not to waste any more time.

9 What do you most dislike doing?

Your answer here suggests what tasks you

might want to delegate or hire out.

10 Which skills do you need to de-

velop in order to perform better?

Your answer to this question might take you to a

course, read a book, or work with a mentor or a

coach.

The word Budget was derived from

the French word, ‘bougette‘, which in

turn is a diminutive of ‘bouge‘, mean-

ing a leather bag.

10 QuestionQuestionQuestion

ReviewReviewReview

14

Overall, market moved in a positive direction

with both SENSEX and NIFTY moving up-

wards; SENSEX from 16454 to 17450 and NIF-

TY from 4814 to 5287 due short coverings in IT,

Refinery and Realty counters and no bad news

from Eurozone. Also, the hike in interest rates

by the RBI was a growth contributing factor.

As of now, the pullout of FIIs has rapidly affect-

ed the Rupee vs. Dollar exchange rate to a nadir

of @ 52.2. This is definitely affecting in that the

companies with high export value (Textiles, IT,

Jewelry etc.) are benefitting while the import

driven industries (crude oil, machineries, chem-

icals, electronics). Hence this does affect the

choices of the investor. Although a general tip

given to the Indian Investor is, to avoid invest-

ing too much on a company with a large per-

centage of shareholdings belonging to the FIIs

as the FIIs can suddenly withdraw their invest-

ment and affect the market value of the share.

The high inflation rate does come to mind when

investing in stocks and bonds. Although bonds

are a lower risk option, stocks carry bit more

protection if there is presence of insurance on

equity of the company and will tend to outper-

form bonds as the returns of bonds are fixed

and inflation will cause losses to the bond in-

vestment. But the buying trend does decrease as

the investor feels extremely cautious in invest-

ing in some company due to rising cost of living.

Although fuel costs have been cut, it does not

offer immediate large scale relief for the con-

sumer and will not affect the market perfor-

mance much. Another announcement from the

government was the hike in the interest rate of

PPF to 8.6% and investment limit to @1, 00,000

will cause some relief to investors who might

invest in PPF bringing marginal relief.

An apparent buying spree was seen in the

shares of Supermarket chains when much was

discussed when the FDI in retail sector was al-

lowed by the government. Facing a wobbly Ru-

pee and inflation the move was aimed to boost

business confidence, increase employment and

improve quality as well as increase competition

among the supermarkets for the betterment of

the consumer.

Now it is to be seen that while Britain might be

heading towards another recession with the

government struggling, a scrupled fiscal plan

and an irate public sector. Moreover the unre-

solved Euro crisis may stall more as British

banks have lent heavily in the Euro Zone‘s worst

trouble spots. This will burden the British econ-

omy more. This causes deep concern in Indian

investors and the market may tend to fall.

As the government cut the growth forecast for

the current fiscal between 7% to 7.5%, the

SENSEX extended losses as the market over-

reacted on the mid-year review of economic

growth in India by the Finance Minister with

SENSEX losing out 634 points in a week there-

after. Losses in major RIL were also reported.

Current at December 9th SENSEX stands at

16213 which has fallen from the 17450 at 1st Oc-

tober with NIFTY also fallen to 4867 at 9th De-

cember 2011. The top gainers of November 2011

in BSE are United Breweries, Indiabulls Fi-

nance, Ambuja Cements, and Jaiprakash Power

with IT sector being major gainer. Stocks of Re-

tail, Teleservices and Construction sectors have

fallen with maximum fall in Pantaloons Retail,

CESC, GMR Infrastructure, and Shree Renuka

being the top losers. This is due to the high ex-

change rate of rupee vs. Dollar, fall in industrial

output in the month of October and November

and withdrawal of the decision for FDI in retail

sector.

The market will continue to be bearish on the

Indian banking sector but will look to bounce

back in the later weeks of December as RBI is

expected to pause its rate tightening cycle with

Nifty projected to reach around 5100.

15

V-MUN Gets United

Nations’ Affiliation EE Bureau | 10th November

The Model United Nations Conference planned

as part of the Annual Management Festival of

VNIT, CONSORTIUM‘12 has finally got affilia-

tion from the United Nations Information Cen-

tre for India and Bhutan, a Asia-Pacific wing of

the United Nations that coordinates work and

provides research facilities in India and Bhutan

through an extensive library. The event is slated

to be held around mid—January, next year.

The Centre plays a major role in publicizing UN

initiatives and pro-

grammes, engaging in a

variety of activities like

lectures, media briefings

and press conferences,

exhibitions, etc. It is also

noteworthy that this of-

fice of the UNO was the

first to be established by

the UN in independent India.

This year, as part of its initiatives, CONSORTI-

UM‘12 is trying to strengthen the idea of free

thought and independent, unrestricted speech

to further democratic principles. Being held for

the first time in Nagpur, the organizers seemed

excited about the proposition. With the affilia-

tion in hand, their confidence is vindicated. The

topic of debate, called the ‗agenda‘, is one of

economics and this too is a first, anywhere in

India.

Overall, this event is poised for success. Hope

the pillars of democracy and the wonders of

management can run our Parliament too.

Express TimesExpress TimesExpress Times E-Cell VNIT Holds

Workshop on Work-

ing of Stock Market Ankit Kumar | 20 November

The Entrepreneurship Cell, VNIT conducted its

first guest lecture on ―Basics and Working of the

Stock Market‖ by Mr. Roshan Khemka, on 7th

November in the Physics Assembly Hall of

VNIT. Mr. Khemka is a broker from Motilal Os-

wal Financial service and is the owner of Pinna-

cle Investment which provides training and tips

on investing strategies for the Stock Market and

he has been a professional in providing finance

solutions to various clients.

The interactive session that lasted for 2 hours,

highlighted the basics of the Stock Market, BSE

and NSE, the concept of Book-building and IP-

Os, different basic concepts related to the mar-

ket, the role of the SEBI and a brief history of

the Indian stock market. Terms such as bonds,

equity and inflation were discussed and various

investing strategies were evaluated using nu-

merous case study examples making this ses-

sion very interesting.

The audience, comprising students from VNIT,

was enthusiastic in asking various questions on

the effect of FDI on the market, the effect of the

US economy on India while discussing the rea-

sons for the economic recession and the com-

parison between the banking models of USA

and India. Involvement of the RBI was also dis-

cussed.

The Workshop concluded with everybody learn-

ing a thing or two new and a satisfied speaker.

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