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XED NEWSLETTER … a weekly news bulletin

11 Pages 06th OCT 2011 – 12th OCT 2011 www.xedintellect.com

Middle India‟s Romance with Luxury

BSE SENSEX 16,958 4.1%(Aug‟11) (as on 13th Oct2011)


Chad Hurley

Suhas Gopinath




Red Hat Acquires Bangalore Start-up Gluster for 667 crore ECONOMIC INDICATORS 2 INTERNATIONAL NEWS 9

Steve Jobs (19552011)

Humble guava is healthiest of all fruits



47 16.1% in August 2011 compared to 3. Steve Jobs (1955-2011). it is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time (usually a 365-day year). Government debt as a percent of GDP.57 Close 16.608.958 India's Index of Industrial Production: 4.8% but lower than the market expectation of 4.510. in the period. ECONOMIC INDICATORS Current Market Rates as on 13th Oct‟11 India‟s Index of Industrial Production  Values 4.958. Third.958. Second.71 16. plus taxes less subsidies on products.97 16. compensation of employees. Markets. GDP can be defined in three ways. Red Hat Acquires Bangalore Start-up Gluster for 667 crore.77 16. The highest gross Government debt as a percentage of GDP among countries tracked by Trading Economics was recorded in Japan (220% of GDP). also known as debt-toGDP ratio. BSE SENSEX: Sensex closed at 16.23 16.54 16. prompting Finance Minister Pranab Mukherjee to warn that second quarter GDP may take a hit.07 16. Government debt is the money owed by the central government to its creditors.39 on Wednesday 12th Oct 2011 (Source: www. United States and Portugal . Belgium.347.230. however. a slight improvement over July's upwardly revised 3.12 16.39  The gross domestic product (GDP) is one of the measures of national income and output for a given country's economy. it is equal to the sum of the value added at every stage of production (the intermediate stages) by all the industries within a country.232.148. reinforcing fears that a slowdown was setting in after 12 rounds of rate increases and persistently high inflation. it is equal to the sum of the income generated by production in the country in the period—that is.668.48 16. is the amount of national debt a country has in percentage of its Gross Domestic Product. closed higher as good results from IT industry bellwether Infosys offset the news of sluggish growth.43 High 16. Our desire is 1.8%.2 bn Indians get a UIDAI number as soon as possible: Nandan Nilekani.660.com) Date 7/10/11 10/10/11 11/10/11 12/10/11 Open 16. and more likely the country is to default on its debt obligations.TOP 5 HEADLINES OF THE WEEK 1.8% in July 2011 Industrial production in August grew at a slower-than-expected pace.bseindia. the less likely the country will pay its debt back. 2 . Greece (143%) and Italy (119%).above 90%.1 Stock Market Indices as on 13th Oct‟11 BSE SENSEX Values 16.595. 2. The Index of Industrial Production (IIP) grew 4. all of which are conceptually identical. taxes on production and imports less subsidies. Ireland. HDFC Mutual replaces Reliance as top fund.222.15 16. and gross operating surplus (or profits). 4. Humble guava is healthiest of all fruits. The higher the debt-to-GDP ratio.987. 3.557.536.270.06 Low 16.49 16. First.1% in August.93 16. 5. Basically.774. Debt to GDP ratio was also high in Singapore.

Close to 55 mn belong to the smaller towns. has propagated caste equality. and significant changes in consumption patterns with high aspiration levels of smalltown India that are compelling marketers to take notice. • Gandhian values: Idea.8 bn this year. Marketing in Middle India: The ‗Bunty Syndrome‘ study provides examples of how companies are adapting to the needs and demands of Middle India. The titles require some explanation. Logistics has traditionally been the big challenge for marketing beyond metros. Middle India now defines its own preferences and marketers increasingly are taking note of it as the market just gets bigger & bigger for them. Contrary to popular belief. In New York. and "The Dhoni Effect: Rise of Small Town India. The movement of organized retail into smaller towns has made things easier and more cost-effective for marketers. 30% of its sales in India come from non-metro cities where it sells through multibrand outlets. while Tata Tea has tried to appeal to the young in Tier II cities with a call to "wake up to the issues." • Family values: The concept of being able to give back to parents has been used to good effect by MasterCard and HDFC Bank. they found 9 and in Tokyo 11. it is not the urban Indian who drives trends. 3 . they found 213 types and in Vijayawada 171 types. For the people from Ludhiana and Jalandhar.000 by 2015. the primary one being the quintessential 'trickledown theory." by advertising agency Euro SCG India in October 2007. Consider how some of the Bunty traits are being tapped: • Confidence: Grasim. improved physical connectivity. satellite and radio in the key urban towns in absolute terms. "The Dhoni Effect identifies a phenomenon where rapidly growing small towns of India are taking center stage.000 (around Rs50 lakh) of investable surplus. a mobile-services brand. especially in Tier III and Tier IV towns and rural India. The old theory of this industry being a showoff of Richie rich with no takers outside metros is fading fast. This may be one of the reasons why marketing in India is regarded as much more difficult than fighting for pieces of market share in the West. only 25 mn are in Tier I cities. Swiss wealth manager Julius Baer forecast that the wealth of HNIs in India. Consultancy firm Bijoor did a typecasting exercise across nine countries to assess how many "types" of people exist in different cities. "Bunty and Babli are popular names for boys and girls in small-town India. There are two studies that attempt to look at the rising middle class: "The Bunty Syndrome. There is a sense of urgency. In a report released last month. excitement and confidence as they race ahead. The message is enhanced by the use of a celebrity (the actor Akshay Kumar) who has made a name for himself on his own in a field where relatives already in the profession are seen as a prerequisite for creating equity in the industry. Media reach has increased significantly.COVER STORY: MIDDLE INDIA‟S ROMANCE WITH LUXURY Indian luxury market is growing at a rate of over 20% a year and is estimated to reach $5. What sold in Tier I would also percolate down and sell in Tier II cities. Armani suits or Porsche Design watches is becoming the norm." has saluted the "We'll get there no matter what" spirit of the youth. They are on the move." by Ernst & Young in March 2008. DLF consciously advertised the festival in Chandigarh. The UB City in Bangalore gets buyers from the nearby mining town of Bellary and for luxury watchmaker Tag Heuer. Mercedes sells more cars in small-town Ludhiana than it does in Mumbai. How we learned to splurge: Physical reach has increased to less-developed sections of the key urban towns. but the long-ignored Buntys and Bablis. In Bhopal.000Cr. easier access to credit and improved retail reach have helped push television. Take a look: According to a global affluence study by research firm TNS. increased awareness due to media penetration. the diversity was awesome. This theory is being turned on its head.900 Cr and for the luxury cars segment at Rs15.' Attitudes and behavioral trends that got formed in the Tier I markets would trickle down into the small towns and rural markets. a quarterly trip to the mall in Delhi to buy Gucci bags. Conclusion: Now many rules of the game are being challenged. Types were classified by their similar marketing behavior. defined as those with more than $100. Ludhiana. Luxury apparently doesn‘t seem to remain a metro thing. Recent investments and developments in infrastructure and connectivity have brought marketers into closer contact with key urban towns. The statistics reveal that India has the second highest number of HNIs after the US. The report also estimated the potential market for luxury jewellery at Rs 22. India's Many Small Mns: Of the 80 mn households that constitute the Indian middle class. through the message of "be self-made. about 18% of the shoppers were from small cities around Delhi. In Boston. the rest of urban India and rural areas. India has 3 mn affluent households. they found 14 different types of people. At the recent luxury shopping festival in Delhi's DLF Emporio mall. would more than double to 403. Jalandhar and Lucknow. In Middle India. The study highlights the growing affluence levels." • Pride: Durables brand Voltas has challenged the monopoly of Korean brands in the air-conditioner space by projecting itself as "India's own AC. Rising disposable incomes. a brand of suits. with assets of $1 mn or more.

Chad grew up near Birdsboro.” Rejuvenating ideas Chad Hurley.‖ Chad started all over again with his pal Steve & took over the bookmarking site ‗Delicious‘ from Yahoo. he was enthralled by the power of the internet. Gopinath was very sure that he wanted to be an entrepreneur & encourage the youth. It allows people to save links from around the web & organize them using like-minded tags. Hurley received his bachelor's degree in fine art from Indiana University of Pennsylvania. Pennsylvania. Suhas started his career in an Internet shop.000 new videos uploaded every 24 hours. Inc. Nothing came of it but that was the beginning of thinking about commercial solutions beyond personal use & helping people reach a mass audience. in the year 2000 at San Jose. he says ―I just got more aggressive with failures. He was motivated by failures. The European Parliament and International Association for Human Values conferred ―Young Achiever Award‖ to Mr. In December 2007. Both of them are overhauling the site design. He setup Globals Inc. & he was also invited to address the European Parliament & other Business dignitaries assembled in the EU Parliament. & they readily agreed & offered him a job that would also have paid for his education in US. ―I don‘t really think that would have been possible without the help of Google. Chen and Hurley sold YouTube to Google. and was ranked as the 10th most popular website just a year after its launch. but realized they needed to generalize & create a video upload community along the lines of Flickr. Suhas was announced as one of the ―Young Global Leaders‖ by the prestigious World Economic Forum & he became the youngest member ever in the World Economic Forum‘s history.‖ he says. I went with the flow and never questioned my abilities. Listen to the community & adapt. California as the laws in India did not allow him to setup a company in India as he was still a minor. As you start building it. which is discovery. But all he said was no. Approach your business partners with concepts they understand & respond to their needs. He was a ‗good‘ student till then but became an average student when he started exploring his new found world in cyber cafes. That was when he started COOLHINDUSTAN.65 billion. In 2008. He wanted to do the stuff for his own company. raised another round. he worked there and also designed websites for Western companies. (Obviously they will not allow the youngest to do a full time job. Their original ideas were videos for online auctions & ways for people to connect with each other.The senior most employee is 26 yrs old with the youngest being 12 yrs.com). CHAD HURLEY “It feels good to be engaged again on finding a simple solution to a difficult problem. 34 & Steve Chen. 33 are the founders of YouTube. To start off he needed money but his parents refused to invest. His advice for startups is that before you fund the product. Hurley. Chad believes that it was a hard decision to be acquired.COM along with his friends (He abandoned that project when it was hacked and the logo was changed to coolpakistan. Mr. But when his elder brother once showed him the world of the internet. Brussels. ASP & any related software that he could lay his hands on. Since then Globals Inc has drastically grown as a Multi-national IT consulting company with representation in more than 11 countries. YouTube could have tried to put everything on the line. Chad says it was the right decision because YouTube grew & it continues to build a community. 4 . launch it to gauge the response of the audience. but I was never afraid of taking risks. Unshaken belief: Suhas was born in Bangalore & dreamt of becoming a veterinary doctor. Steve Chen & investor Roelof Botha went to Nike HQ in Oregon. the average age of the employees in his company is around 21. Passion to restart On October 16. After graduating. He then wrote to Network Solutions headquartered in California. Suhas Gopinath at the EU Parliament. but it would have been even more threatening to a lot of the services out there & it would have been hard for them to operate in an efficient way. There are reportedly 100 million clips viewed daily on YouTube. YouTube quickly became one of the web's fastest-growing sites. with an additional 65.PERSONALITIES OF THE WEEK SUHAS GOPINATH “Enterprise is more important than high academic qualifications” Juvenile aggression: At the age of 14 Suhas Gopinath was recognized as the world‘s youngest certified Professional Web developer through his project coolhindustan. He says. for $1. When Nike soccer video took off on the site. HTML.com. 2006. abiding by the Child labor Act) who does web designing for them. he had taught himself to create & design a website. At present. do not assume you know all the answers. So they decided Google was going to be their answer. he joined eBay's PayPal division where he was asked to design a logo to show his skills & the result was PayPal's logo for many years. Within a year.

a lot rests on the shoulders of former Infosys CEO Nandan Nilekani. Air India‘s pilots have at least two good reasons to bail out: non-payment of salaries. Of the fund houses. fund analysts are not too ruffled by the decline.‖ said Brian Stevens. California. Any reading of less than 50 indicates contraction. 4) HDFC Mutual replaces Reliance as top fund. which accounts for more than half the Indian economy.4 per cent. he has to assign unique identity numbers for all Indians before a new subsidy regime of direct cash transfers can take off. Gluster. Nothing has come through and we can‘t survive on promises alone. the top five fund houses — HDFC. ICICI.22 lakh for former commanders of Air India. The finance ministry has rejected its Rs 15. Stanford University. sells open-source storage solutions to customers such as UK defence major BAE Systems. with thriving budget airliner IndiGo poaching two thirds of those. 5) Our desire is 1.TOI 6 Oct Red Hat. CTO and vice-president. while economic activity is seen to be growing if the index is over 50. a new survey released. & the government going back & forth on the issue of parity in service conditions between the pilots of the erstwhile Indian Airlines‘ and those of Air India. 2) Pilots choose better options as Air India fails to keep its promise. at Red Hat. all the way up to petabytes) that ties together everything from the operating system layer to the file system and management interface. has acquired Bangalore-based cloud computing start-up Gluster for approximately Rs. However. The seasonally adjusted Service Sector Business Activity Index fell to 49. Deutsche Bank and the administrative office of US courts. has slipped into negative terrain. has developed an open-source storage platform technology for working with large amounts of data (terabytes. The biggest drop was seen in the case of Reliance Mutual Fund. Reliance. follows all government procedures and is flexible about which agency collects the biometrics of all 1. This not only brought down the AUM of the fund house below the Rs 1 lakh crore level but also saw it ceding the number one position to HDFC MF.8 from 53. As the chairman of the Unique Identification Authority of India (UIDAI).2 billion residents through its registrars. the world‘s leading provider of open source solutions. Cloud Computing in India is poised for a 10-fold growth to $4. UTI and Birla Sun Life — saw their AUMs drop. has said the authority's structure goes against government procedures where as he has asserted that the UIDAI is accountable to Parliament. with employment falling for the second successive month. citing duplication of expenditure as the census office is also doing this for the National Population Register (NPR). Overall economic activity is seen to be nearly stagnating.667 crore ($136 million) in an all-cash deal.2 bn Indians get a UIDAI number as soon as possible: Nandan Nilekani-ET 10 Oct As the government seeks a radical transformation in how it transmits Rs 3.‖ says a senior commander with Air India who is slated to join IndiGo. 3) Services sector shrinks in Sept. What has compounded the problems for the MFs is that equity funds have been seeing redemptions for more than a year now. accountable to Parliament for the UIDAI's expenditure.8 in August. The deal is expected to close this month. The rest have been hired by a clutch of carriers including domestic airlines like Jet Airways & SpiceJet as well as a few international carriers. ―We were told that salaries will be paid regularly but every month only some part is credited despite the government assuring us that the issue of parity with Air India pilots will be sorted out soon. subject to customary conditions.The Hindu Business Line 7 Oct Falling equity markets coupled with advance tax payments took a toll on the mutual fund industry as its average assets under management declined by about 4% in the quarter ended September as compared to the preceding quarter as of September-end. ―The explosion of big data and the new paradigm of cloud computing are converging. Gluster.BUSINESS NEWS 1) Red Hat Acquires Bangalore Start-up Gluster for 667 crore. increasing worries for policymakers. IndiGo is dangling the carrot of a joining bonus of Rs. He adds that many more resignations are in the offing. This is the first time since April 2009 that the services sector. headquartered in Sunnyvale. founded in 2005 by Anand Babu Periasamy and Hitesh Chellani.TOI 6 Oct Cash-strapped national carrier Air India has lost 48 of its pilots to domestic and international rivals over the past 3 months. The Planning Commission. 5 .5 billion up from $400 million today according to EMCZinnov India Study. whose AUM fell by 10. the HSBC Purchasing Managers Index showed. But the UIDAI has run into its first spell of rough weather in recent weeks. worldwide engineering.000 crore of annual welfare spends.00. manageable and scale for the future.2 billion Indians.TOI 6 Oct Activity in the services sector shrank in September as new orders sank.000 crore demand to capture biometrics of 1. forcing IT to rethink storage investments that are cost effective. according to data on the AMFI Web site.

making it the same for us. 7) Now. 8) Rs100cr court fine on Times Now in a defamation case.‖ said another airline executive. ―Moody‘s believes the probability of systemic support for ICICI Bank is high. 6 . the BEA said it would discuss the matter and seek legal opinion since the issue had implications for all TV journalists." the executive said on condition of anonymity. ―Around 35% of our costs are paid in dollars. have increased their market share. The Haryana government. ICICI & AXIS Bank get ratings thumbs-up. Indian manufacturers such as Micromax.‖ said a senior airline executive. Latest data from International Data Corporation (IDC) showed a 3% quarter-on-quarter slip in mobile phone shipments in the country during April-June at 42. BEA is the apex body of editors of national and regional TV news channels of India. is also losing out Rs 6. our costs have increased by 10%.540 crore. on the other hand. already beset with problems. "Our sales have increased significantly due to launch of our dual sim phones. Fitch affirmed Axis Bank‘s long term foreign currency issuer default rating at ‗BBB‘ with a stable outlook. Airlines with less international exposure are seeing more impact because of the absence of any dollar revenue. 9) Mobile handset sales falls 12-13 mn. A senior Nokia official claimed that the Finnish company was the only brand to have grown in the industry over the last two quarters.Maruti Suzuki Employees Union. thereby. a standoff broke out between the workers and the management on August 29 over the issue of signing of a good conduct bond. got the rating because of a robust franchise and capitalization. Even as the payments for parking and landing at international airports are paid in the local currency. In its annual general meeting. Monthly handset sales in the country has fallen to 12-13 million over the past two quarters. Maxx and Karbonn seem to have been affected as Nokia and Samsung. Maxx Mobiles Chairman Ajjay Agarwal and Spice Mobility Managing Director Dilip Modi said their sales have remained same as last year. The rating reflects the bank‘s strong franchise and its sound profitability and asset quality. the top two players in the industry. and the fresh strike at the Manesar plant from October 7.000 per car on an average as sales tax. After it was resolved. We have no option but to observe this cost. down from 23 million in November last year and more than 20 million in January.67 million new subscribers in August. 10) Airlines sag more with rupee slide. the government is losing Rs 68. According to the industry calculations.540 crore. the country‘s largest private sector bank. Since the first round of strike for 13 days in June this year to the 33-day-long standoff from August 29-October 1. Aviation turbine fuel constitutes half of the operating cost of an airline. at a time when the pressure on fares continue because of low fares by two airlines. MSI has suffered a total production loss of 51.6) Maruti strike costs government Rs 350 cr in excise duty-PTI 11 Oct A series of strikes at the country's largest carmaker Maruti Suzuki India's Manesar plant since June this year has resulted in excise revenue losses to the tune of nearly Rs 350 crore for the government.8 crore so far. The industry added only 6. according to data from research firm GfK. resulting in a total of Rs 30. The year 2011 has proved to be a tough one for India's biggest carmaker. given its sizeable retail deposit franchise. The reiteration of a financial strength rating of ‗C-‘ for ICICI Bank came a day after Moody‘s downgraded SBI from ‗C-‘ to ‗D+‘ on account of the public sector lender‘s deteriorating asset quality and rising nonperforming assets (NPAs).BS 6 Oct ICICI Bank & Axis Bank‘s financial positions today received the thumbs-up from rating agencies Moody‘s & Fitch. the charges are calculated in dollars. according to telecoms regulator Trai. Jet fuel prices have increased by 40% in recent times. respectively. the workers at the Manesar plant had gone on a 13day-long strike demanding the recognition of a new union -. it is estimated that per car on an average. ICICI Bank. Around a third of the operating cost of every airline is calculated in dollar terms.TOI 8 Oct Broadcast Editors' Association (BEA) expressed concern over a court order imposing a fine of Rs 100 crore against news channel Times Now in a defamation case. a prerequisite made for permanent workers to enter the factory premises.BS 6 Oct The slide in the value of the rupee against the dollar is making the lives of airline companies. ―With the depreciating rupee. resulting in a total loss of Rs 349 crore. In June.8 million units. Lava. a bit more difficult. weak rupee may push prices-ET 10 Oct Mobile handset sales in the country have started sliding or stagnating in line with a slowdown in subscriber additions.000 in the form of excise duty. while the company has already suffered a hit of up to Rs 1.‖ the agency said. as well as its importance to the national payment system as the second-largest commercial bank. forcing local players to push exports to maintain their growth rate.375 units. down from an average of 15 million last fiscal year. The revenue loss to the company from the series of strikes since June is estimated at Rs 1.

Coffee consumption stood at 1e lakh tonne in 2010." 14) Starbucks Coffee Company set for cafe joint venture with Tatas-TNN 10 Oct Starbucks chairman and CEO Howard Schultz is set to clinch a joint venture with Tata Group for opening coffee shops in Indi a. The country's foreign direct investment (FDI) regulations allow Starbucks to hold up to 51%. It's interesting to see that the entrepreneurial spirit of people in these markets is already paying off in terms of personal wealth. The policy also targets exports worth $ 200 billion and a total revenue of $ 300 billion by 2020 from the IT and ITes industry. including Tata Coffee. The Western-style cafe culture has helped boost coffee consumption in India by 6% in the last five years. China and Brazil have overtaken many European countries in this measure of consumer wealth with three million affluent households each in these countries which have over USD one lakh investible funds. "Our objective from this policy is to increase revenues of IT and ITeS (IT-enabled services) industry from $ 88 billion at present to $ 300 billion by 2020 and expand exports from $ 59 billion at present to $ 200 billion by 2020" he said. 12) Roaming charges to be abolished-TNN 11 Oct If the government has its way. said. The draft aims to provide fiscal benefits to small and medium enterprises & start-up ventures in the key industrial verticals for adoption of IT. Coffee Bean. the country is also home to the second largest number of affluent people with a whopping three million households which have over USD one lakh of investible funds. "Our research confirms that emerging markets will become new centers of affluence in coming years. while the US still is the world's most prosperous country with 31 mn affluent households. which was acquired by Italy's Lavazza. 2011 that is aimed at creating a pool of extra 10 million skilled manpower by 2020 & strengthening India's position as a global IT power. Releasing the report. with as many as one-third of its population still living in poverty. Besides. The monetary authority will unveil its second quarter credit policy on October 25. while this is only 1. The $11-billion Starbucks is finalizing an exclusive equity joint venture with Tata Coffee which would also be backed by other bigger firms within Tata Group. More recently. In other words. There is also a move to cut costs for value-added services.25 per cent and 0. India. The idea is to treat IT and telecom as a basic necessity—just like health or education—and ―work towards ‗Right to Broadband‘‖. The shipment is worth $ 59 billion. internet users can look forward to kissing goodbye to painfully slow broadband connections with the policy aiming to double the download speed to 512 kilobytes per second (Kbps) and then boosting it to 2 mega bps by 2015. while the revenue is $ 88 billion at present. India's coffee shop sector is dominated by local players cafe Coffee day and Barista Bean Company. who was a part of a Ficci delegation.ET 8 Oct The government today unveiled the draft policy on information technology. as many as 27 per cent American households are affluent. almost nine months after he struck a sourcing deal with Tata Coffee. 13) India 2nd only to US. TNS business and finance director Reg van Steen said. The National Telecom Policy 2011 is moving from e-governance to m-governance as mobile telephony is now cheaper resulting in more people having access to phones. sources added.ET 7 Oct Strange as it may sound. a unit of India's largest private conglomerate and Asia's largest coffee grower. "There is an urgent need to reduce the rates and all the industry bodies like Ficci.75 per cent in regard to India and China respectively. said two sources directly aware of the matter." Hiranandani. as the government and the regulator prepare an ―appropriate regulatory framework for delivery of VAS at affordable prices‖. Managing Director of the Hiranandani Group. Communication and IT Minister Kapil Sibal said unveiling the draft policy. Dunkin Donuts announced a tie-up with Jubilant. such as text messages. India and China have already surpassed major European markets like Germany and France in this. Segafredo Zanetti and Nescafe have embarked on building cafe chains in the country. Tata shares may be routed through more than one group entity. Niranjan Hiranandani. broadband speed will go up more than nine times in four years and consumers may get a voice on quality of services in case of disputes with operators. with 3 mn affluent households: Survey. According to a survey by the global market research agency TNS. it will soon be ‗One Nation‘ as far as telecom is concerned— with roaming charges becoming a thing of the past and countrywide number portability being the order of the day. 7 . CII and IMC are united in that. thanks to the sheer size of their population.11) Draft IT policy aims creation of 10 million new jobs by 2020. 15) Industry pleads for cheaper credit-PTI 10 Oct Leaders of industry on Monday appealed to the Reserve Bank to cut interest rates in the forthcoming credit policy saying the economy could slide into difficulties if credit is not made cheaper. said recent data like the drastic fall in factory output numbers suggested that the IIP numbers too would fall if the interest rates continue to be high. As part of the strategy. Several international brands like Costa.

Africa. took the company by surprise and within minutes spread to adjoining plants of Suzuki Powertrain India and Suzuki Castings.100 casual workers to enter the factory. Top Crompton officials have been meeting fund managers of mutual funds and insurance companies that hold the stock to convey this decision. A poor reception for its Playbook tablet computer has increased pressure on RIM's top management. "Expats. with specialized skill sets. a trend that has seen up to 20 per cent spurt this year. ―We are not concerned about who will be the buyer of the aircraft. In line with the company's positioning of a value-for money brand within the Volkswagen (VW) stable. including our new 2. Crompton shares plunged almost 44% in a month from July 19 — the day the company reported disappointing first quarter results and after a wider section of investors took notice of the jet purchase. after dismal quarterly results. 8 . Monday's outage follows last month's BlackBerry Messenger disruption in the Americas. are being offered highly attractive packages. 18) Fiery Shareholders Force Crompton to Sell off Plane-TOI 8 Oct Crompton Greaves. which once owned the corporate mobile email market. The Citigo is one of the newest and the smallest cars in Skoda's stable and will be launched in the Czech market in late 2011 and in Europe in the beginning of summer 2012. India-Reuters 10 Oct BlackBerry users in Europe. as well to the factories of Suzuki Motorcycle India in Gurgaon. 19) Fresh Maruti Strike Spreads in a Flash-TOI 8 Oct Workers at Maruti Suzuki‘s troubled Manesar car plant went on a so-called flash strike. Last month. reflecting an individual's ability to adapt and deal with diversity. The strike. may sell the jet to an unlisted group entity at the price at which it was purchase. The number of foreigners seeking jobs in the country are no longer limited to the middle and senior levels. while a string of senior staff have left. mostly from the US and Europe are looking at India for jobs. increasingly seen as a takeover target. which supply components to Maruti Suzuki. What is interesting is that these expats are given compensation almost at par with what is being paid in foreign countries. there are around 40. 17) Skoda lines up new compact car Citigo for India-ET 10 Oct The company has not been able to crack the big volume compact car segment in India with the Fabia. 20) Western economies in deep freeze. has been losing share to Smartphone rivals led by Apple's iPhone as employees from the boardroom down demanded more choice. whose price starts at Rs 7lakh. the Middle East.16) BlackBerry has outages in Europe. expats look at India for jobs-PTI 09 Oct As the Western economies continue to remain in deep freeze. The company said the casual workers would be absorbed once production increased. The Maruti management described the actions of the workers as a breach of faith. Africa and India suffered email outages for several hours on Monday. 270 crore last fiscal.000 expats working in the country and the number is still growing. The Indian experience also adds values to the expats' resume. virtually seizing the premises in protest of the management‘s decision not to allow 1. Maruti's Dzire. in which no notice is served on the management.5-lakh capacity Manesar II assembly plant. more and more foreigners. adding that at present. according to head-hunters. which had bought the aircraft for an estimated Rs. raising prospects of a break-up. Toyota's Etios. Kumar added. which also owns a majority 54. but is spreading over to beginners as well. We are gradually ramping up our production at Manesar. However. RIM. which started during the second shift at around 4 pm. All these plants are wholly owned by the parent. ―That is a non issue. It will be priced lower than Volkswagen Vento. sale or new leadership.‖ said a fund manager with a private mutual fund and privy to the matter. adding to the woes of struggling manufacturer Research in Motion. the Citigo will be a cheaper alternative to parent VW's Up! The Rapid will be launched in India in December and will compete with models like Nissan's Sunny. All we are concerned about is whether Crompton recovers the entire money (Rs. Twitter users and Reuters correspondents from Britain to Dubai to New Delhi reported disruptions or complete outages of their email and BlackBerry Messenger services. Ford's Fiesta Classic and Tata's Indigo Manza. and it now plans to launch new products in the lower-end of the market to corner higher numbers and market share. who were miffed by the company‘s decision to buy the aircraft at a time the company's profits were under pressure. investors drove RIM stock down by 20 percent. What irked shareholders all the more was the company‘s remarks terming the purchase as an ‗investment‘. which are not available in the country due to financial or technology constraints such as molecular research. The two persons who did not want to be identified as they are not authorized to speak to the media said the latest move by the management is aimed at assuaging the feelings of these dominant investors. or $3 billion in value." Elixir Consulting Manager Ratnesh Kumar said. The model will be manufactured at Volkswagen's Chakan factory.2% stake in Maruti Suzuki. 270 crore) or not. Suzuki Motor Corporation. the attrition rate of expats is around 10 per cent annually mainly due to difficulties in communication and cultural differences.

but it has dropped to No. The Chakan facility near Pune. electronics and digital-media industries. 4 just a few years ago 23) Humbled Dubai looks to real economy. which is almost two-and-a-half times the valuation at which private equity fund Warburg Pincus exited the healthcare company in June this year. when a nearly unbroken string of successful products like the iPod. Rise in disposable incomes. But it lost out to bigger rivals Nokia and Samsung Electronics at the cheaper end of the market. Dr Vahland said Europe.coupled with strengths in logistics and trade. Porsche and Bentley to MAN and Scania will contribute to making this a reality. which accounts for nearly 60 per cent of Skoda's sales. The company didn't specify the cause of death. which saw rebellion in countries as far apart as Tunisia and Syria and. 24) S African Chain to Buy 26% in Max Healthcare-TNN 12 Oct Life Healthcare. hence. Volkswagen has also targeted 2018 as the year to attain its objective of being the world's largest automaker. VW and Skoda. These three countries are expected to play a big role in helping Skoda achieve its global goal of 1. Aurangabad. died on 5 th Oct. Mr.in contrast with the excesses of its earlier model -. both of which leveraged Sony's brands. is home to VW and Skoda models which are produced on a common platform like the Polo/Fabia and Vento/Rapid. Mr. Parent company. referred to as the volumes plant. limited numbers) models of Audi. South Africa‘s second-largest hospital chain. forced banks to bolster reserves and deferred debt maturities. Skoda along with the slew of other brands in VW's kitty right from Audi. said that the company would ―invest heavily‖ in emerging nations with the top priorities being India. formed in 2001.to seven-year cycle". handing the reins to longtime deputy Tim Cook. 25) Skoda bets big on India as global growth driver-The Hindu Business Line 09 Oct Czech carmaker Skoda Auto is betting big on India as one of its key growth drivers in the future. is acquiring a 26% stake in Analjit Singh-led Max Healthcare for Rs516 crore. rival Bahrain. pegging the valuing of the company at Rs 855 crore.37% stake in the unlisted hospital chain to Max India for Rs140 crore at Rs 29. A more modest approach to business -. Jobs's career occurred near the end of his life. The most productive chapter in Mr.40 a share. The joint venture. Jobs had battled pancreatic cancer and several years ago received a liver transplant. Dr H. but there's a sense that when a recovery eventually happens.5 million cars by 2018. Florence Eid. chairman & co-founder who pioneered the personalcomputer industry & changed the way people think about technology. Mr. would see its share fall to 40 per cent by 2018 as the rest of the world takes over. the Apple Inc. it will be based on firmer ground. It has refocused its business to make smartphones using Google's Android platform.62 lakh units and hopes to wrap up this calendar with over eight lakh cars. at the age of 56. lifestyle changes and increased government expenditure on healthcare are driving growth in the sector. and was late to react to Apple's entrance into the high-end of the market. a chastened Dubai has ring fenced vulnerable assets.000 crore. Jobs. Luck certainly seems to be in its favour: the Gulf emirate has proven an oasis of calm amid the chaos of the Arab Spring. Jobs proved the appeal of well-designed products over the power of technology itself and transformed the way people interact with technology. caters to top-end (and.INTERNATIONAL NEWS 21) Steve Jobs (1955-2011)-WSJ 7 Oct Steven P. the ‗variety plant'. Dubai's boom and bust were closely linked to its real estate market. CEO at research firm Arabia Monitor expects the property market to return to normal by 2015 because "the history of real estate bubbles suggests a five. In August. thrived after its breakthrough with Walkman music phones and Cybershot camera phones. Clearly. Winfried Vahland. Chairman of the Board of Management. 9 in global cellphone rankings from No. Arab world-Reuters 09 Oct Nearly two years after it was forced to go cap in hand to neighbor Abu Dhabi for a bailout. The proposed transaction values the Max India subsidiary at around Rs 2. China and Russia. Sony and Ericsson have been talking for weeks about the future of the venture because the companies' 10-year-old pact is up for renewal this month. co-founder Bill Gates. penetration of health insurance. crucially. 9 . making this one of the largest foreign investment deals in the Indian healthcare sector. In addition to laying the groundwork for the industry alongside others like Microsoft Corp. The market is still plagued by oversupply. 22) Sony to buy Ericsson's stake in their 50:50 smartphone JV-Reuters 7 Oct Sony Corp is nearing a deal to buy Telefon AB LM Ericsson's stake in their 50:50 smartphone joint venture. ahead of General Motors and Toyota. The private equity player had sold a 16. iPhone and iPad changed the PC. The company ended 2010 with 7.C. mean that Dubai's dreams of being a top financial centre are still just about alive. Jobs stepped down as chief executive. and a growing focus on its own region.

it was a mere 22 mg/100 grams in pineapple. which gave Sun TV shares a more than 10% boost. on whom courts and other judicial bodies have made adverse pronouncements. erupted. We usually believe that expensive fruits are the richest source of nutrition. were up 1. aging and a variety of degenerative diseases.65% at 21. that it has honored them with the Ig Nobel for public health. but their party. Rai said he had written a letter to Public Accounts Committee chairman Murli Manohar Joshi saying he was willing to appear before the parliamentary body and explain the method of 2G auditing. ―The findings were an eye-opener for us. Our extensive research shows that fruits that are rich in anti-oxidants help scavenge free radicals that destroy tissues.MISCELLANEOUS NEWS 26) Humble guava is healthiest of all fruits-TNN 12 Oct A study by the National Institute of Nutrition (NIN) in Hyderabad has revealed that fruits like guava and apple are rich in antioxidants. from the Bangalore-based National Institute for Mental Health and Neurosciences (NIMHANS). Its child sex ratio stands at 892 girls for every 1. The raids also put back the corruption spotlight on the UPA government and its oversight of ally DMK‘s stewardship of the telecom ministry. the UN mentioning India and China in the same breath does not speak too highly of India‘s efforts in this sphere. 29) Marans Raided. regarded as India‘s worst instance of graft.‖ Studies show that fruits are rich sources of phenolic compounds and anti-oxidant activity (AOA). went where no man had gone before and spent a year studying rhinotillexomania for that's what compulsive nose-picking is called in 200 adolescents from four urban schools. Shares of Kalanithi Maran-owned Sun TV ended at 288. annals of improbable research. Dr Sreeramulu told TOI. Shares of SpiceJet. The brothers got unexpected support from the stock market. Chittaranjan Andrade and BS Srihari's first-hand knowledge of this deep-seated adolescent habit has so impressed the Harvard science-humor magazine. 28) Ig Nobel for Indian scientists-TOI 7 Oct Anyone who digs nose-picking now has company. However.000 boys. And it has laid the blame for this phenomenon squarely on the ultrasonography machine. Andrade and Srihari. Vinod Rai said there‘s been an erosion of people‘s faith in government. The problem does seem acute especially in Mumbai. 10 . Sun TV‘s rise was attributed to short covering. governance below par: CAG-TNN 12 Oct The Comptroller and Auditor General (CAG). ―It often provides very poor testimony of our capabilities if members of the all-India services allow themselves to be used if not as facilitators. We have CMs who have had to vacate their positions allegedly for graft. which are intimately involved in the prevention of cellular damage—the common reason for cancer. Cells may function poorly or die if this occurs. which has been a topic of debate and heartburn in Mumbai. 30) UN blames sex test for India‟s „missing‟ girls-TOI 8 Oct An overwhelming majority of the 117 million ―missing‖ girls in Asia are from India and China. where the 2G spectrum scandal. which is not only much worse than the all-India figure of 914 girls but is also poorer than Vietnam‘s 899 girls for every 1. say experts in the city.000 boys. certainly as a medium for wrongdoing by others… All attempts to improve governance will come to naught if the agencies responsible for governance do not consider probity in public life and ethical behaviour as cardinal principles in their official dealings. the United Nations has said.‖ Later speaking to reporters. Booked by CBI in Aircel Case-TNN 11 Oct The Central Bureau of Investigation has raided premises connected with Tamil Nadu‘s Maran brothers and booked them for prosecution under anti-corruption laws. with only 847 girls born for every 1. further isolating the siblings who long thrived on a cocktail of business and politics. We have MPs who are being indicted by the judiciary for various acts including accepting cash for exercising their vote in Parliament— Vinod Rai. lead author Dr D Sreeramulu from the NIN‘s endocrinology and metabolism division has said that while the anti-oxidant activity in guava was a high 496 mg/100 grams. was circumspect. But the UN Population Fund figures offer some cold comfort—China appears even more casual about the future of its girl child. Mumbai's sex ratio remains skewed. National trust in bureaucracy including the police force has collapsed. 27) Govt credibility at its lowest. In an article published in the journal ‗Food Research International‘.6. comptroller & auditor general ‗Need to stand up and be counted‘ Rai said. the DMK. the low-cost carrier that Kalanithi bought last year. The CBI also raided the home of Suneeta Reddy. Despite the efforts of the government and activists.15 on BSE after yo-yoing through the day. The integrity of civil servants is being questioned‘. Their confidence in public institutions has declined. Free radicals are atoms that can start a chain reaction and cause damage when they react with important cellular components such as DNA or cell membrane.000 boys under the age of six. the joint managing director of Apollo Hospitals who owns a minority stake in Aircel.

since present management took over). the leading global distributor of corporate news. Stanton made a verbal tender offer of $11&1⁄2 per share to buy back Buffett's shares.453. utilities & energy.S and Business Wire.     INTELLIGENCE BYTES: Berkshire Hathaway stock produced a total return of 76% from 2000–2010 versus a negative 11. we hope to outpace this yardstick’. 2011. Fechheimer. retaining corporate earnings on its balance sheet in a manner that is impermissible for private investors and mutual funds. but for only $11&3⁄8.H. In 1964. commercial and consumer lending (Berkshire Hathaway Credit Corporation and Clayton Homes). services and retailing. Berkshire Hathaway Inc. Berkshire's class A shares sold for $108. making them the highest-priced shares on the New York Stock Exchange.020 as of Sept 28. Hathaway was run by Seabury Stanton. Instead of selling at the slightly lower price. Buffett initially maintained Berkshire's core business of textiles. Star Furniture and Jordan‘s Furniture are retailers of home furnishings. Berkshire‘s salary for the CEO -US$100. Berkshire Hathaway is the 8th largest public company in the world.General Re & the Berkshire Hathaway Reinsurance Group. but by 1967. recently argued in an article in New York Times that the richest members of US society are indulged with an unfairly generous tax regime and are not making a fair contribution to repairing the country's finances. Over time.000 per year with no stock options. which forms the core of its insurance operations today (and is a major source of capital for Berkshire's other investments). US Revenue: US$ 136. nicknamed "Woodstock for Capitalists".3% return for the S&P 500. the last textile operations (Hathaway's historic core) were shut down. Vanity Fair. Berkshire acquired an equity stake in the Government Employees Insurance Company (GEICO). explaining Berkshire‘s broad economic principles of operation like ‗We regularly compare the gain in Berkshire’s per-share book value to the performance of the S&P 500. Included in the group of subsidiaries that underwrite property & casualty insurance and reinsurance along with GEICO (the 3rd largest private passenger auto insurer in US) are 2 of the largest reinsurers in the world . this put Buffett in a situation where he was now majority owner of a textile business that was failing. In 1985. in part because they have never had a stock split and never paid a dividend. multimedia and regulatory filings.BERKSHIRE HATHAWAY Head Quarters: Omaha. As per Berkshire‘s 2010 annual report. Buffett agreed to the deal. Berkshire‘s finance & financial products businesses engage in proprietary investing strategies (BH Finance).is among the lowest salaries for CEOs of large companies in US. Buffett decided to buy more of the stock to take control of the company and fire Stanton (which he did). R. Borsheims. Russell. Buffett received the tender offer in writing. Buffett. Charlie Munger (Vice Chairman) Owned by the Oracle of Omaha: Berkshire Hathaway traces its roots to a textile manufacturing company – the Valley Falls Company established by Oliver Chace in 1839. Berkshire's annual shareholders' meetings.2% compounded annually. a premier direct seller of kitchen tools in the U. a publisher of a daily and Sunday newspaper. and with Hathaway Manufacturing Co. finance. Berkshire first ventured into the insurance business with the purchase of National Indemnity Company.The Buffalo News. over the last 46 years (that is. Warren Buffett issued a booklet entitled ‗An Owner‘s Manual‘ to Berkshire‘s Class A & Class B shareholders in June 1996. Helzberg Diamond Shops and Ben Bridge Jeweller are retailers of jewellery. H. The Pampered Chef. freight rail transportation. Buffett later admitted that this lower undercutting offer made him angry. According to the Forbes Global 2000 List. However. A few weeks later. are considered Omaha's largest annual event. In the late 1970s.519 employees. he was expanding into the insurance industry & other investments. book value has grown from $19 to $95. At this time. 11 . In 1929 it merged with Berkshire Cotton Manufacturing Co. is a holding company owning subsidiaries engaged in diverse business activities including property & casualty insurance and reinsurance. license & distribute apparel & footwear under a variety of brand names.185 billion (2010) CORPORATE INTELLIGENCE Company Statistics: An American conglomerate with 260. Nebraska. Garan. whose annual chairman's letters are widely read and quoted. the meetings typically start with a movie made for Berkshire shareholders.C. Other businesses include . Brown Shoe Group and Justin Brands manufacture. taking place in the Qwest Centre in Omaha. Willey Home Furnishings. In 1962. manufacturing. The Warren Buffett Way: As Chairman. Fruit of the Loom. Nebraska Furniture Mart. Warren Buffett began buying stock in Berkshire Hathaway after noticing a pattern in the price direction of its stock whenever the company closed a mill. a rate of 20. Key People: Warren Buffett (Chairman & CEO). See‘s Candies. Known for their humour and light-heartedness. manufacturer & seller of boxed chocolates and confectionery products. in 1955.

6. 60% rise in salary and Rs. 25 fold 2. b. d. b. What is the IndiGo management offering the former Air India commanders to attract them to their workforce? a. Power of easy user interface over appeal of well-designed products. The draft aims to provide fiscal benefits to cooperatives & start-up ventures in the key industrial verticals for adoption of IT. Power of simplicity over appeal of well-designed products. The draft aims to provide fiscal benefits to SMEs & start-up ventures in the key industrial verticals for adoption of IT. sector accounts for more than half the Indian economy? Services sector Agricultural sector Energy and power sector Banking & finance sector is the apex body of editors of national and regional TV news channels of India? Broadcasters Editors' Association Editor's Broadcasters Association Association of Broadcasters & Editors Broadcast Editors' Association 5. b. Which a. Slide in the value of the rupee against the dollar & the fact that around a third of the operating cost of every airline is calculated in dollar terms. c. Rise in the demand for pilots & airlines have increased their salaries resulting in high costs.22 lakh. Cloud Computing in India is poised to grow __________? a. What does draft policy on information technology. c. Which a. Appeal of well-designed products over the power of technology. Rising infrastructure and maintenance cost. 7.23 lakhs. The draft aims to provide tax concessions to SMEs & start-up ventures in the key industrial verticals for adoption of IT. d. 10 fold c. d. b. Asian countries have surpassed the European countries as affluent countries in the world? Hongkong & China Japan & India India & China India & Hongkong 8. b. c. a. d. d. b. d. c. The draft aims to provide fiscal benefits to big companies & start-up ventures in the key industrial verticals for adoption of IT. Prices for parking and landing at international airports have been raised by countries. 12 . Joining bonus of Rs. b. d. Why have airline companies been facing problems in India? a. 20 fold d. Which a. 2011 aim to do? a. c. 15 fold b. c. 3. 3 times more package than what is offered by Air India.21 lakh joining bonus. Joining bonus of Rs. Power of technology over appeal of well-designed products. Steve Jobs stressed on _____________. c.CURRENT AFFAIRS QUIZ 1. 4.

d. Australia b. Wipro d. China 12. d. The finance ministry found some irregularities in the accounts of UIDAI and hence rejected the grant. is the amount of national debt a country has in percentage of its Gross Domestic Product. c.2 billion residents through its registrars. d. Nandan Nilekani. the chairman of the Unique Identification Authority of India (UIDAI) was a CEO of which of the following Information Technology companies? a. Nokia & Sony Ericson c. Cognizant Technology 14. Why? a. 10. The idea is to increase the costs for value-added services and cover this increased cost by providing broad band services at cheaper rates. Germany 11. The idea is to double the download speed to 512 kilobytes per second (Kbps) for the mobile internet users . UN has laid the blame for this phenomenon squarely on high rate of school drop out of girls. Here we are talking about which of the following pair of mobile companies? a. Indian mobile handset manufacturers seem to have been affected as the top two players in the industry have increased their market share. Nokia & Samsung 15. Government debt as a percent of GDP. What is the reason behind the fact that an overwhelming majority of the 117 million missing girls in Asia are from India and China. Which of the following countries has the highest gross Government debt as a percentage of GDP tracked by Trading Economics? a. The finance ministry has rejected UIDAI's Rs 15. Italy d. b. also known as debt-to-GDP ratio. Japan c. b. UN has laid the blame for this phenomenon squarely on low education level among women. UN has laid the blame for this phenomenon squarely on the ultrasonography machines. Motorola & Nokia d. Tata Consultancy Services c.9. c. Motorola & Samsung b. Which of the following countries has the least GDP? a. Infosys b. according to the United Nations? a. The idea is to treat IT and telecom as a basic necessity just like health or education and ―work towards ‗Right to Broadband‘‖. 13 . Which of the following is the idea behind it? a. The gross domestic product (GDP) is one of the measures of national income and output for a given country's economy. France d. UN has laid the blame for this phenomenon squarely on lack of government action. because the census office is also doing this for the National Population Register (NPR) which means duplication of expenditure. 13. b. The National Telecom Policy 2011 is moving from e-governance to m-governance as mobile telephony is now cheaper resulting in more people having access to phones. because UIDAI has failed to complete the first phase of it project all over India and hence not eligible for more grant. c. The finance ministry is not having sufficient funds for the project and hence rejected the demand.000 crore demand to capture biometrics of 1. The idea is to popularize m-governance by providing countrywide number portability at one time activation price. Greece b. India c.

c. 14 . Which of the following companies is the Asia's largest coffee grower and is a unit of India's largest private conglomerate? a. The Rapid will be launched in India in December and will compete with models like Nissan's Sunny.020 as of Sept 28. making them the highest-priced shares on the New York Stock Exchange. Mahindra & Mahindra d. b. they have never retained corporate earnings on their balance sheet. Barista Bean c. Hyundai 19. credit-rating agencies are to be blamed for grossly underestimating the risk of a housing collapse and a financial meltdown. Cleveland Healthcare 20. Berkshire's class A shares sold for $108. Maruti's Dzire. Starbucks chairman and CEO Howard Schultz is set to clinch a joint venture with which of the following Indian groups for opening coffee shops in India? a. Johns Hopkins Clinic b.3% return for the S&P 500. Costa Coffee 18. c. Life Healthcare c. Future Group d. the company has followed a policy of buybacks to create more value for their shareholders. of the following is a parent company of Czech carmaker Skoda Auto? Toyota Motors General Motors Volkswagen Ford Motors 21.16. Rapid is a car model from which of the following car makers? a. Aditya Birla Group b. they are the most preferred stocks for long term capital appreciation. they have never had a stock split. Ford's Fiesta Classic and Tata's Indigo Manza. Honda c. the richest members of US society are indulged with an unfairly generous tax regime. c. in part because: a. 2011. b. Greece needs to reduce its deficits and start selling off state-backed assets in order to meet the terms of a second bailout by the IMF. Which a. d. Nescafe b. Name South Africa‘s second-largest hospital chain that is acquiring a 26% stake in Analjit Singh-led Max Healthcare for Rs516 crore. Toyota's Etios. while making profits. the Berkshire Hathaway stock has produced a total return of 76% from 2000–2010 versus a negative 11. making it one of the largest foreign investment deals in the Indian healthcare sector? a. Sahara Group 17. 22. Tata Coffee d. Tata Group c. Berkshire's chairman Warren Buffet has recently argued in an article in New York Times that: a. d. d. Mayo Clinic d. Skoda b. b.

a. 10 Lakhs c. Logistics c. d. Pricing 25. 50 Lakhs d. Which a.23. b. What has traditionally been the big challenge for marketing beyond metros. 1 Crore b. Advertising b. Retailing d. especially in Tier III and Tier IV towns and rural India. India has 3 mn affluent households. c. 1 Lakh 24. Affluent households are defined as those with investable assets of how much? a. of the following "Bunty" traits have been tapped by Voltas in its advertising and marketing efforts? Confidence Gandhian Values Family Values Pride ANSWER KEY: Q 1 2 3 4 5 A b d a d a Q 6 7 8 9 10 A b c b c a Q 11 12 13 14 15 A b d a d a Q 16 17 18 19 20 A b c a b c Q 21 22 23 24 25 A b c c b d 15 .

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