Wishing all Indians a Happy Independence Day.
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Maa Tujhe Salaam
Wishing all Indians a Happy Independence Day.
Author: Raoji
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Weekend Mega Linkfest:August 14,2015
Some off beat reads for the weekend:
The lies and politics behind GST (Op India)
What Gandhis don’t want you to know about Adil Shahryar (DailyO)
When I was a Prisoner of War in Pakistan (Outlook)
Can India’s Parsis survive their own success? (Harpers)
ISIS enshrines a theology of rape (NYTimes)
The unretiring Serena Williams (NYMag)
How the Sinaloa drug cartel digs its tunnels (New Yorker)
Finland-The country most afraid of Russia (Harpers)
Spoof:Sushma Swaraj in Lok Sabha (Unreal Times)
Auto Ownership Review:Mercedes CLA45 (Team BHP)
A hanging in India (Shashi Tharoor)
Jinnah’s role in India’s first talkie Alam Ara (Scroll)
Mutual Fund Startup Scripbox gets funding of 16 Crores (YS)
Arnab’s hoax (Media Crooks)
Ashish Khetan:I leaked the Radia tapes (Newslaundry)
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ICICI Lombard scores over HDFC Ergo
(Disclosure:I am market making in the shares of ICICI Lombard)
Given the stringent criteria set forth by national carrier Air India while inviting technical bids, a consortium of four state owned non-life insurers and private insurer ICICI Lombard General Insurance Company have qualified for providing insurance cover to it. Theseinsurers will have to submit financial bids by next month. Private insurer HDFC Ergo General Insurance failed to qualify for the technical bidding. The four state owned non-life insurers namely New India Assurance, Oriental Insurance, United India Insurance and National Insurance Company bid as a consortium. Unlike previous years where private and public sector general insurers formed separate groups to bid, and the overall group’s financial strength was evaluated, this time, the national carrier developed a detailed score system to evaluate each insurer’s financial strength.
“We were asked to submit details including networth, investments, assets under management, liquid assets, gross premium underwritten, market share, retention capacity, solvency margin. On every parameter, an insurer was given a score. Till last year, the overall score of a consortium (of insurers) was counted. But this year they said that the average score of a consortium would be counted. So the average score of ICICI Lombard would fall if another private insurer’s score is less. Therefore ICICI Lombard did not bid in a consortium with HDFC Ergo General Insurance but bid alone,” an industry official tod Financial Chronicle.
A senior official of HDFC Ergo General Insurance confirmed that the insurer has failed to qualify for the technical bidding. The airlines will now be sharing information on passenger growth they are projecting, growth in fleet size etc. Insurers would be appointing brokers to conduct road shows in the overseas reinsurance market. The financial bids have to be done by September said another insurance official.
Air India insurance policy is the country’s largest aviation policy and is due for renewal on October 1.-from DigitalFC
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Portfolio of Ashish Kacholia
This post is in continuation of my coat tailing series (see here)
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Ashish Kacholia of Lucky Securities is a well known investor in the Indian Equity Markets.
His significant holdings in India aggregating around Rupees 326 Crores as on 30 June,2015 as per Stock Exchanges is given below:
| Company Name | Symbol/Code | Entity | Date End | # of Shares | % | Value (Rs Crores) |
| Ashiana Housing Limited | ASHIANA | ASHISH KACHOLIA | 201506 | 1322613 | 1.29 | 29.66 |
| AXISCADES Engineering Technologies Limited | AXISCADES | ASHISH KACHOLIA | 201506 | 375000 | 1.38 | 9.58 |
| Eveready Industries India Limited | EVEREADY | Ashish Kacholia | 201506 | 1550000 | 2.13 | 55.33 |
| GATI Limited | GATI | Ashish Kacholia | 201506 | 1500000 | 1.71 | 27.52 |
| Lokesh Machines Limited | LOKESHMACH | Ashish Kacholia | 201506 | 1000000 | 7.83 | 10.5 |
| Navin Fluorine International Limited | NAVINFLUOR | ASHISH KACHOLIA | 201506 | 242218 | 2.48 | 26.79 |
| Pennar Industries Limited | PENIND | ASHISH KACHOLIA | 201506 | 2500000 | 2.08 | 14.95 |
| Pokarna Limited | 532486 | ASHISH KACHOLIA | 201506 | 348315 | 5.62 | 40.78 |
| SHAILY ENGINEERING PLASTICS LTD | 501423 | ASHISH KACHOLIA | 201506 | 1000000 | 12.02 | 41.5 |
| Shreyas Shipping & Logistics Limited | SHREYAS | ASHISH KACHOLIA | 201506 | 526209 | 2.4 | 29.25 |
| Vadilal Industries Limited | VADILALIND | ASHISH KACHOLIA | 201506 | 231130 | 3.22 | 18.26 |
| Vadilal Industries Limited | VADILALIND | SUSHMITA ASHISH KACHOLIA | 201506 | 110279 | 1.53 | 8.71 |
| Zen Technologies Limited | ZENTEC | ASHISH KACHOLIA | 201506 | 1549456 | 2.01 | 14.98 |
| Zen Technologies Limited | ZENTEC | SUSHMITA ASHISH KACHOLIA | 201506 | 948642 | 1.23 | 9.17 |
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A Bull Market in Highway Lands
The cost of land acquisition for highway projects in the country has gone up 70 per cent in the last three years, even as new compensation mechanism under the land acquisition law is not applicable. The new law became applicable from January 1 this year, and will have its effect on the land acquired for highways during the current financial year.
Speaking to Business Standard, a senior official in the National Highways Authority of India (NHAI) said, “This is beyond doubt that the cost of land has grown dramatically in the last three years, mainly on account of increase in circle rates, sale deeds, increase in realty prices etc. In the last three years, the cost of compensation has gone up by 73 per cent. Further, with the new land acquisition law in place from this January, the cost of land will further go up. The effect of the new law in awarding compensation will be reflected in the land acquired in 2015-16.”-from BS
