‘Sensex pulls back as Korean fears ease, ends 266 pts down’

Equity benchmarks crashed more than 3% during the day post the North Korea fired artillery
shells at South Korean islands, which triggered a bit of sell-off from foreign investors as well as
shorts build up in afternoon trade. However, the recovery in last one hour of trade suggested that
the markets priced in all those jitters – the sensex recovered more than 300 points from day's low
but there was quite a bit of volatility at end. Even short covering led some of the recovery at end.
Mildly negative reaction to Korean news from European markets and US index futures also led
some support to Indian markets. The 30-share BSE sensex closed at 19691, down 265 points and
the 50-share NSE nifty was at 5934, down 75 points.

S Kumars plans to open Reid & Taylor IPO in Jan-Feb

pparel and textile major S Kumar recently raised USD 50 million via a qualified institutional
placement (QIP) at Rs 80 a share. The company further plans to raise additional funds by
January-February through an initial public offer of its luxury textiles segment Reid & Taylor,
said chairman Nitin Kasliwal.In an exclusive interview with CNBC-TV18’s Udayan Mukherjee
and Sonia Shenoy, he said that the IPO size is seen at USD 200-250 million. “We will use about
USD 100 million from the IPO to repay SKNL debt, thus reducing net debt to Rs 2,000 crore by
FY12-end.”

Airtel charts out debt prepayment plan for Zain: Sources

India’s largest telecom operator Bharti Airtel had earlier announced that it will be pre-paying
part of the debt taken on books for the Zain acquisition. CNBC-TV18’s Kritika Saxena now
learns that it has chartered out a debt repayment plan.Bharti acquired the African telecom assets
of Kuwaiti group Zain in a USD 9 billion deal in June, giving it access to what it says is the
"biggest future continent" for telecoms, and making it the world's fifth-biggest mobile
operator.For this deal, the Indian telecom major had taken USD 7.5 billion from a consortium of
11 lenders. It is now being learnt that the company has charted out a plan to prepay this debt. The
first tranche of USD 800 million is expected to be completed by March 2011, while the second
tranche of USD 400 million may be rolled out by January 2012. However, sources say that
further pre-payment depends on cashflows and Zain’s profitability.Manik Jhangiani CFO of the
Bharti Group had earlier told CNBC-TV18, “That is the beauty of how we structured the debt
financing. We wanted to make sure we had the pre-payment flexibility because our India
business is hugely free cashflow positive and generates a huge amount of free cashflow. We took
USD 7.5 billion of debt for the acquisition and I could say we could be paying down anywhere
between USD 0.5-1 billion.” When contacted,
Bharti denied to comment, calling the news speculative.
Pranav Parikh is the spiritualist in business
 Be better than your competition and get business on merits.
 Do not breach the law consciously, through oversight or neglect; and be willing to pay
penalties
 When you in advertently do so.No one non-performs intentionally. A leader’s job is to
nurture the strengths in everyone. If you have nothing to do with the printing industry, it
is unlikely that you know Pranav Parikh. Not that he cares. Given how reserved he is, he
might actually prefer it that way. Parikh owns TechNova. The company was started in
1971 and today is one of the largest manufactures in the world for offset plates, graphics
art chemistry and digital print media. It is the world’s fourth largest plate manufacturer.
Parikh is also part of the larger family business that includes Lee and Muirhead, a
company that has been brought out by his father.

‘Kingfisher, American Airlines in code share pact’

kingfisher Airlines and American Airlines have entered into a code sharing and frequent flyer agreement, which
will take effect from 2011, the Indian carrier said in a statement on Tuesday.The agreement, subject to regulatory
approvals, will allow Kingfisher to place its code on American's daily flight between New Delhi and Chicago.
American Air can codeshare on Kingfisher's flights from London Heathrow to both New Delhi and Mumbai as well
as tap its domestic network, the statement said.Kingfisher is a member-elect of Oneworld, an alliance of
international airlines of which American Air is a founder-member.Kingfisher already has an operational code
sharing pact with British Airways.