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Rayudu, Sharma take Mumbai Indians to top four with 5-wicket win over Daredevils

 
Ambati Rayudu slammed an unbeaten 49 and skipper Rohit Sharma came up with solid 46 to steer Mumbai Indians to a five-wicket win over Delhi Daredevils with three balls to spare in a rain-interrupted clash in the Indian Premier League at the Wankhede Stadium here tonight.
 
Opting to bat first, the visitors made 152 for six from their 20 overs, powered in the main by a superb 57 by Yuvraj Singh.
 
In response, Mumbai Indians made 154 for five in 19.3 overs to move to the fourth place on the table with five wins from their 10 outings so far after starting off the tournament with four straight losses.
 
Delhi Daredevils are now placed sixth in the eight-team league with four wins from their 10 matches thus far.
 
The Delhi Daredevils began the match on a false note, losing opener Mayank Agarwal to the very first ball when Lasith Malinga had him caught behind by Parthiv Patel.
 
Shreyas Iyer (19) and captain Jean Paul Duminy (28) steadied the innings with a 43-run partnership for the second wicket before the former left, becoming Harbhajan Singh's first victim.
 
In the next over, Duminy was caught and bowled by Jagadeesha Suchit to make it 50 for three. Duminy's 28 came off 19 balls and included three fours and two sixes.
 
Kedar Jadhav (16) and Yuvraj Singh added 28 for the fourth wicket and the latter then put on 24 for the fifth wicket in the company of Angelo Mathews.
 
Yuvraj later found some support from Saurabh Tiwary (13 not out) as they added 41 for the sixth wicket before he finally made his exit off the last ball of the 19th over. His 57 was compiled off 44 balls and included seven fours and two sixes.
 
For Mumbai Indians, Harbhajan took two wickets, conceding only 11 runs in his four overs, an effort which got him the Man of the Match award. Malinga also picked up two for 33.
 
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Chasing 153 for a win, Mumbai Indians waded into trouble straight away, losing opener Lendl Simmons off the first ball from Zaheer Khan and then Hardik Pandya (5) in the second over with just eight on the board.
 
Patel (13), the other opener and Sharma took the score to 29 before the former left in the fifth over. Harbhajan, sent in at number five, failed to get going and was bowled by Nathan Coulter-Nile after he had made just five in a total of 40.
 
That brought Sharma and Rayudu together and they added 60 for the fifth wicket before the skipper made his exit in the 16th over. His 46 was made off 37 balls and included two fours and three sixes.
 
The hosts still needed 53 off 28 balls, but Rayudu took control of the situation and with Kieron Pollard (26 not out) ensured that there were no further hiccups. They added 53 in their unfinished partnership for the sixth wicket.
 
Rayudu's 49 came off 40 deliveries and included four fours and a six, while Pollard's 26 was made off 14 balls with the help of three sixes.
 
Coulter-Nile picked up two wickets for 30 while Khan, Mathews and Amit Mishra got one apiece.
 
Scoreboard
Delhi Daredevils (20 overs maximum)
MA Agarwal c Patel b Malinga 0
SS Iyer c Vinay Kumar b Harbhajan Singh 19
JP Duminy c & b Suchith 28
KM Jadhav st Patel b Harbhajan Singh 16
Yuvraj Singh c Simmons b Malinga 57
AD Mathews c Suchith b Pandya 12
SS Tiwary not out 13
NM Coulter-Nile not out 3
Extras (b 1, lb 2, w 1) 4
Total (6 wickets; 20 overs) 152
Did not bat: A Mishra, Imran Tahir, Z Khan
Fall of wickets: 1-0 (Agarwal, 0.1 ov), 2-43 (Iyer, 5.1 ov), 3-50 (Duminy, 6.4 ov), 4-78 (Jadhav, 11.2 ov), 5-102 (Mathews, 15.4 ov), 6-143 (Yuvraj Singh, 18.6 ov)
Bowling
SL Malinga 4 0 33 2
MJ McClenaghan 4 0 37 0
R Vinay Kumar 3 0 31 0
Harbhajan Singh 4 1 11 2
J Suchith 3 0 24 1
HH Pandya 2 0 13 1
 
Mumbai Indians (target: 153 runs from 20 overs)
LMP Simmons lbw b Khan 0
PA Patel c Mishra b Mathews 13
HH Pandya c Imran Tahir b Coulter-Nile 5
RG Sharma b Mishra 46
Harbhajan Singh b Coulter-Nile 5
AT Rayudu not out 49
KA Pollard not out 26
Extras (lb 1, w 8) 9
Total (5 wickets; 19.3 overs) 153
Did not bat: J Suchith, R Vinay Kumar, MJ McClenaghan, SL Malinga
Fall of wickets: 1-1 (Simmons, 0.1 ov), 2-8 (Pandya, 1.5 ov), 3-29 (Patel, 4.2 ov), 4-40 (Harbhajan Singh, 5.2 ov), 5-100 (Sharma, 15.2 ov)
Bowling
Z Khan 4 0 32 1
NM Coulter-Nile 4 1 30 2
AD Mathews 4 0 33 1
Yuvraj Singh 1 0 5 0
A Mishra 4 0 25 1
Imran Tahir 2.3 0 27 0
 
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Rahane shines with unbeaten 91 as Royals beat Daredevils by 14 runs

 
Opener Ajinkya Rahane made a brilliant 91 off 54 balls to help Rajasthn Royals beat Delhi Daredevils  by 14 runs in the Indian Premier League (IPL) at the Brabourn Stadium here tonight.
 
The win meant that the Royals are back at the top of the league with six wins, three losses from 11 matches so far. More importantly, they returned to winning ways after a gap of five matches after starting out in this edition of the tournament with a series of wins.
 
Asked to bat first, the Royals, powered by Rahane's 91 and Karun Nair's 61, posted a challenging 182 for 2 from their 20 overs.
 
Chasing 190 for a win, Delhi's openers failed to give them a good start and, though skipper Jean Paul Duminy made a game effort with 56 and Saurabh Tewary struck an unbeaten 28, but the other batsmen could not help the team stay on course.
 
The Daredevils ended up with 175 for seven from their 20 overs and are now placed sixth in the eight-team league with four wins and five losses from their nine matches thus far.
 
Rahane and skipper Shane Watson (21) provided Rajasthan with a confident start, putting on 52 for the first wicket.
 
Rahane was then joined by Nair who proved to be in fine nick as he compiled 61 off 38 balls with the help of six fours and two sixes. Together, they added 113 for the second wicket to help the Royals reach 165 for two in the 19th over. Rahane's 91was made off 54 balls and contained nine well-timed fours and three sixes.
 
For Delhi, Angelo Mathews and Nathan Coulter-Nile shared the two wickets that fell today.
 
The Daredevils lost opener Mayank Agarwal (11) with the total at 20 in the third over and his partner Shreyas Iyer (9) two overs later at 32. 
 
Duminy and Yuvraj Singh (22) tried to repair the damage, adding 33 for the third wicket before the latter left. Duminy and Mathews (16) then added 41 for the fourth wicket. Mathews left at 106 in the 14th over and Kedar Jadhav (11) followed a little later at 123, even as the required run rate kept on increasing. At one stage, they needed 79 off the last six overs.
 
Duminy, who was running out of partners, made his exit in the 18th over, to make it 145 for six. His 56 was made off 39 balls and included three fours and three sixes. There was little that the other batsmen could do, though Tiwary did make an effort through his 14-ball 28 that included a four and two sixes.
 
For the Royals, Dhawal Kulkarni, Stuart Binny and James Faulkner picked up two wickets each.
 
Scoreboard
Rajasthan Royals (20 overs maximum)
AM Rahane not out 91
SR Watson c Jadhav b Mathews 21
KK Nair c Mishra b Coulter-Nile 61
JP Faulkner not out 8
Extras (b 2, lb 1, w 5) 8
Total (2 wickets; 20 overs) 189
Did not bat:SPD Smith, SV Samson†, STR Binny, DJ Hooda, TG Southee, DS Kulkarni, R Bhatia
Fall of wickets: 1-52 (Watson, 6.5 ov), 2-165 (Nair, 18.2 ov)
Bowling
Z Khan 4 0 31 0
GS Sandhu 4 0 49 0
NM Coulter-Nile 4 0 38 1
AD Mathews 4 0 27 1
A Mishra 4 0 41 0
 
Delhi Daredevils (target: 190 runs from 20 overs)
MA Agarwal b Binny 11
SS Iyer b Watson 9
JP Duminy c Kulkarni b Faulkner 56
Yuvraj Singh c Binny b Faulkner 22
AD Mathews c Samson b Binny 16
KM Jadhav† c Watson b Kulkarni 11
SS Tiwary not out 28
NM Coulter-Nile c Smith b Kulkarni 6
A Mishra not out 1
Extras (b 3, lb 1, w 11) 15
Total (7 wickets; 20 overs) 175
Did not bat:  Z. Khan, GS Sandhu
Fall of wickets: 1-20 (Agarwal, 2.3 ov), 2-32 (Iyer, 4.1 ov), 3-65 (Yuvraj Singh, 8.5 ov), 4-106 (Mathews, 13.3 ov), 5-123 (Jadhav, 15.3 ov), 6-145 (Duminy, 17.6 ov), 7-155 (Coulter-Nile, 18.3 ov)
Bowling
TG Southee 4 1 31 0
DS Kulkarni 4 0 43 2
STR Binny 2 0 27 2
SR Watson 4 1 25 1
JP Faulkner 4 0 22 2
R Bhatia 2 0 23 0
 
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Simmons, Patel steer Mumbai Indians to 23-run win over KXIP

 
Openers Lendl Simmons (71) and Parthiv Patel (59) put on 111 for the first wicket to help Mumbai Indians outclass Kings XI Punjab (KXIP) by 23 runs in the Indian Premier League (IPL) here this evening.
 
Opting to bat first, the visitors posted a challenging 172 for three from their 20 overs, though their later batsmen failed to take full advantage of the strong foundation laid by Simmons and  Patel.
 
In response, KXIP could make nly 149 for seven in their allotted 20 overs, despite a gallant 43 by David Miller and 39 by opener Murali Vijay.
 
For Mumbai Indians, this was their fourth victory in this season from nine matches so far and a third consecutive win, though they remain in the seventh spot in the eight-team league. But, like Sunrisers Hyderabad and Delhi Daredevils, they too have eight points at this stage and are only one point behind Royal Challengers Bangalore and defending champions Kolkata Knight Riders, who have nine points each are placed third and fourth. Chennai Super Kings and Rajasthan Royals, with 12 points each, are in the first and second places.
 
KXIP, with seven losses from nine outings thus far, are languishing at the bottom of the table.
 
The day belonged to Simmons, who made his 71 off 56 balls with the help of nine fours and a six, while Patel hit three sixes and five fours in his 36-ball knock.
 
Patel was the first to go in the 13th over, after which skipper Rohit Sharma (26) and Simmons, who was later chosen Man of the Match, took the total to 154. Simmons fell in the last over with the total at 166.
 
KXIP began their chase for 173 on a dismal note, losing opener Virender Sehwag (2) with just nine on the board in the second over. Glenn Maxwell 12)( and Vijay, who came into the team in place of the sick Manan Vohra, took the total to 38 before the former left.
 
That brought Vijay and Miller together and the two added 48 for the third wicket. Vijay left in the 12th over. His 39 included three fours and a six.
 
Miller and skipper George Bailey (21) added 33 for the fourth wicket befor Miller finally made his exit. His 43 came off 37 balls and was studded with three fours and a six.
 
When Miller departed at 119 in the 17th over, KXIP still needed 54 runs from the remaining 22 balls.
 
Bailey and Wridhiman Saha (12) added 21 for the fifth wicket before KXIP lost two wickets -- Bailey and Axar Patel (0) -- off successive balls in the 19th over. Saha fell off the last ball of the innings.
 
For Mumbai Indians, Lasith Malinga took two for 31, while J Suchith and Harbhajan Singh picked up one apiece.
 
Scoreboard
Mumbai Indians (20 overs maximum)
LMP Simmons c Patel b Anureet Singh 71
PA Patel† c Vijay b Karanveer Singh 59
RG Sharma* c Anureet Singh b Johnson 26
KA Pollard not out 7
AT Rayudu not out 4
Extras (lb 3, w 2) 5
Total (3 wickets; 20 overs) 172
Did not bat: UBT Chand, Harbhajan Singh, J Suchith, R Vinay Kumar, MJ McClenaghan, SL Malinga
Fall of wickets: 1-111 (Patel, 12.2 ov), 2-154 (Sharma, 17.6 ov), 3-166 (Simmons, 19.3 ov)
Bowling
Sandeep Sharma 3 0 24 0
Anureet Singh 4 0 30 1
MG Johnson 4 0 41 1
AR Patel 3 0 24 0
Karanveer Singh 4 0 30 1
M Vijay 1 0 12 0
GJ Maxwell 1 0 8 0
 
Kings XI Punjab (target: 173 runs from 20 overs)
M Vijay c Chand b Harbhajan Singh 39
V Sehwag c Pollard b Malinga 2
GJ Maxwell c Vinay Kumar b Suchith 12
DA Miller c Sharma b Malinga 43
GJ Bailey run out (Patel) 21
WP Saha run out (Suchith/Vinay Kumar) 12
AR Patel run out (Malinga) 0
MG Johnson not out 8
Extras (lb 9, w 3) 12
Total (7 wickets; 20 overs) 149
Did not bat: Anureet Singh, Sandeep Sharma, Karanveer Singh
Fall of wickets: 1-9 (Sehwag, 1.1 ov), 2-38 (Maxwell, 4.3 ov), 3-86 (Vijay, 11.5 ov), 4-119 (Miller, 16.2 ov), 5-140 (Bailey, 18.4 ov), 6-140 (Patel, 18.5 ov), 7-149 (Saha, 19.6 ov)
Bowling
MJ McClenaghan 4 0 25 0
SL Malinga 4 0 31 2
R Vinay Kumar 3 0 17 0
J Suchith 4 0 33 1
Harbhajan Singh 4 0 27 1
KA Pollard 1 0 7 0
 
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Mumbai cop shoots dead senior, then himself at Vakola police station

 
Mumbai cop shoots senior, commits suicide
A senior inspector of the Mumbai Police succumbed to injuries in a local hospital in the early hours of today after he was allegedly shot at by an assistant sub-inspector at the Vakola police station in Santa Cruz here yesterday evening.
 
Police Commissioner Rakesh Maria told reporters at the scene of the crime that the assistant sub-inspector (ASI), Dilip Shirke, was agitated over the fact that he had been marked absent from the point where had been posted on duty the previous night.
 
Mr Maria said Shirke's seniors had checked twice, at 0230 hours and 0630 hours, and found that he was not present at the point.
 
He was duly marked absent in the station diary by the night inspector, and this upset him. He took up the matter with senior police inspector  (PI) Vilas Joshi around 8.30 pm, as the officer was preparing to leave for home, and claimed that he had been on duty.
 
"When the senior PI was leaving the room, the ASI fired at him with his service revolver," Mr Maria said.
 
Mr Joshi was hit on his back and his wireless operator, Balasaheb Ahir, was injured in the thigh during the incident. The ASI then shot himself.
 
All three were rushed to the nearby Lilavati Hospital, where the ASI was declared dead on arrival. Mr Joshi succumbed to his injuries around 1.30 am today, sources said. The operator is undergoing treatment and is out of danger.
 
Mr Maria said the case had been transferred to the Crime Branch of the city police for investigation.
 
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Rayudu, Pollard steer Mumbai Indians to eight-run win over Rajasthan Royals

 
Riding on an unbeaten half-century by Ambati Rayudu and 38 by opener Lendl Simmons, Mumbai Indians beat Rajasthan Royals by eight runs in the Indian Premier League (IPL) at the Wankhede Stadium here tonight.
 
Asked to bat first, the hosts posted a challening 187 for five from their 20 overs, with most of their top order batsmen getting among the runs today. A late blitz by Rayudu and Kieron Pollard (24) helped them to overcome a slowdown in the middle and reach an imposing total.
 
Apart from Rayudu (53 not out) and Simmons, opener parthiv Patel made 23, Unmukt Chand 13, Rohit Sharma 27 and Kieron Pollard 24.
 
Chasing 188 for a win, Rajasthan ended up with 179 for seven, nine runs short of their target, though Sanju Samson, coming good finally with a superb 76 off just 46 balls with seven fours and three sixes, very nearly pulled it off for the visitors.
 
Skipper Shane Watson made 28 and Steve Smith contributed 23 but their efforts were not enough.
 
Rajasthan Royals continue in the second spot on the table with five wins, three losses and two no-results in their ten outings so far. Mumbai Indians are placed seventh in the eight-team league, just ahead of Kings XI Punjab, with three wins and five losses from eight matches.
 
Mumbai Indians began on a steady note, with Simmons and Patel putting on 43 for the first wicket and Chand and Simmons then taking the total to 73, when the latter left.
 
Things slowed down a bit after that as they lost two more wickets to make it 120 for four in the 15th over. But Rayudu and Pollard then added 61 runs in 4.5 overs for the fifth wicket, which, in the final analysis, made all the difference today.
 
While Samson brought the visitors pretty close, they were done in by the fact that Mumbai bolwers Mitchell McCenaghan and Lasith Malinga gave away only 14 runs in the 18th and 19th overs while picking up three wickets.
 
That meant the Royals still needed 20 from the last over and they were not equal to the task.
 
Scoreboard
Mumbai Indians (20 overs maximum)
LMP Simmons lbw b Ankit Sharma 38
PA Patel c & b Kulkarni 23
UBT Chand c Binny b Southee 13
RG Sharma c Ankit Sharma b Kulkarni 27
AT Rayudu not out 53
KA Pollard c Samson b Theron 24
Harbhajan Singh not out 0 0 0 0 -
Extras (lb 3, w 5, nb 1) 9
Total (5 wickets; 20 overs) 187
Did not bat:: J Suchith, R Vinay Kumar, MJ McClenaghan, SL Malinga
Fall of wickets: 1-43 (Patel, 4.5 ov), 2-73 (Simmons, 9.1 ov), 3-84 (Chand, 10.4 ov), 4-120 (Sharma, 14.5 ov), 5-181 (Pollard, 19.4 ov)
Bowling
TG Southee 4 0 36 1
DS Kulkarni 3 0 26 2
J Theron 4 0 40 1
SR Watson 3 0 36 0
STR Binny 2 0 17 0
Ankit Sharma 4 0 29 1
 
Rajasthan Royals  (target: 188 runs from 20 overs)
AM Rahane c Rayudu b Vinay Kumar 16
SR Watson b Suchith 28
SV Samson c Suchith b McClenaghan 76
SPD Smith c Harbhajan Singh b McClenaghan 23
KK Nair c Patel b McClenaghan 7
STR Binny not out 9
DJ Hooda c Chand b Malinga 1
TG Southee run out (Pollard/Vinay Kumar) 6
J Theron not out 1
Extras (lb 2, w 9, nb 1) 12
Total (7 wickets; 20 overs) 179
Did not bat: DS Kulkarni, Ankit Sharma
Fall of wickets: 1-30 (Rahane, 3.1 ov), 2-71 (Watson, 8.1 ov), 3-127 (Smith, 14.6 ov), 4-161 (Samson, 17.4 ov), 5-161 (Nair, 17.5 ov), 6-162 (Hooda, 18.1 ov), 7-177 (Southee, 19.4 ov)
Bowling
MJ McClenaghan 4 0 31 3
SL Malinga 4 0 34 1
R Vinay Kumar 4 0 39 1
J Suchith 4 0 39 1
Harbhajan Singh 4 0 34 0
 
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India’s forex reserves go up by $ 1.404 billion to $ 344.605 billion

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India’s forex reserves increased by $ 1.404 billion to touch a new high of $ 344.605 billion in the week ended April 24, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had soared by $ 2.788 billion to $ 343.201 billion in the previous week.
 
In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 1.404 billion to $ 320.264 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect  of  appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves remained unchanged at $ 19.038 billion during the week, while its special drawing rights went up by $ 0.2 million to $ 4.005 bilion.
India's reserve position in the Indian Monetary Fund (IMF) remained unchanged at $ 1.298 billion, the bulletin added.
 
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Singapore's sovereign wealth fund GIC acquires 63.9% stake in Nirlon

A view of Phase III of the Nirlon Knowledge Park in Mumbai.
A view of Phase III of the Nirlon Knowledge Park in Mumbai.
Reco Berry Private Limited, an affiliate of GIC, Singapore’s sovereign wealth fund, announced today that, pursuant to the open offer and agreements with shareholders, it is acquiring 63.9% in Nirlon Ltd for Rs 12.8 billion.
 
The stake is being acquired at Rs 222 per share, a press release from GIC said.
 
"Acquisition of 28.4% stake under the open offer has been completed. Reco Berry is in the process of acquiring the 35.5% stake under the agreements," the release added.
 
GIC is a leading global investment firm with well over $100 billion in assets under management. 
 
Established in 1981, the firm manages Singapore’s foreign reserves and is uniquely positioned for long-term and flexible investments across a wide range of asset classes, including real estate, private equity, equities and fixed income. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. 
 
Nirlon, listed on the Bombay Stock Exchange, owns Nirlon Knowledge Park. NKP is a well designed, large scale, high quality office park located in Mumbai. NKP comprises seven blocks and is spread across 2.2 million square feet. Well?located along the Western Express highway in Goregaon, NKP is just 7 km away from the airport and 13 km away from Bandra Kurla Complex, the emerging Central Business District of Mumbai. Owing to its strategic location and high asset quality, it is substantially leased, with a strong tenancy base of international financial companies, the release added.
 
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Mumbai Indians beat Sunrisers Hyderabad by 20 runs for second win

 
Mumbai Indians (MI) beat Sunrisers Hyderabad by 20 runs to register their second win in the eighth edition of the Indian Premier League (IPL) at the Wankhede Stadium here this evening.
 
Opting to bat first, MI found themselves restricted to just 157 for eight from their 20 overs, thanks to some good work by pace bowlers Bhuvaneshwar Kumar (3/26), Praveen Kumar (2/35) and Dale Steyn (2/38).
 
Their innings was propped up by a half-century by opener Lendl Simmons (51) and 33 by Kieron Pollard. Skipper Rohit Sharma contributed an unbeaten 24. Simmons, who hit six fours and a six in his 51, put on 42 for the first wicket with Parthiv Patel (17).
 
Simmons and Sharma added 51 runs for the third wicket to take their side to 100.
 
Chasing 158 for a win, Sunrisers began well with openers Shikhar Dhawan (42) and skipper David Warner (9) putting on 45 for the first wicket in five overs.
 
But then they suffered some quick reverses, and were struggling at 68 for three in the ninth over. Lokesh Rahul (25) and Ravi Bopara (23) added 36 for the fourth wicket, but once the two left to make it 126 for five in the 18th over, the fight had gone out of the visitors. They ended up with 137 for eight.
 
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Lasith Malinga took four for 23 from his four overs, including three in the penultimate over, and Mitchell McClenaghan got three for 20 to help the hosts to what was only their second win in seven outings.
 
The domination of the Mumbai bowlers can be gauged from the fact that they did not concede a single boundary between the seventh and 12th overs, giving away only 29 runs.
 
Mumbai Indians, however, continue to languish at the bottom of the eight-team league, while Sunrisers are in the fifth position with two wins from six matches so far.
 
Scoreboard
Mumbai Indians (20 overs maximum)
LMP Simmons b Steyn 51
PA Patel c Vihari b Steyn 17
UBT Chand c Dhawan b P Kumar
RG Sharma c B Kumar b Sharma 24
KA Pollard b B Kumar 33
AT Rayudu c Boult b B Kumar 7
Harbhajan Singh c B Kumar b P Kumar 0
J Suchith not out 9
R Vinay Kumar c Ojha b B Kumar 0
MJ McClenaghan not out 1
Extras (lb 1, w 9) 10
Total (8 wickets; 20 overs) 157
Did not bat: SL Malinga
Fall of wickets 1-42 (Patel, 5.4 ov), 2-49 (Chand, 6.6 ov), 3-100 (Simmons, 12.3 ov), 4-108 (Sharma, 13.5 ov), 5-126 (Rayudu, 16.4 ov), 6-128 (Harbhajan Singh, 17.3 ov), 7-149 (Pollard, 19.1 ov), 8-149 (Vinay Kumar, 19.2 ov)
Bowling
TA Boult 4 0 27 0
B Kumar 4 0 26 3
DW Steyn 4 0 38 2
P Kumar 4 0 35 2
KV Sharma 4 0 30 1
 
Sunrisers Hyderabad (target: 158 runs from 20 overs)
S Dhawan c Malinga b McClenaghan 42
DA Warner c Rayudu b Malinga 9
KL Rahul c Rayudu b McClenaghan 25
NV Ojha c Pollard b Suchith 9
RS Bopara c sub (HH Pandya) b McClenaghan 23
GH Vihari c Patel b Malinga 16
KV Sharma not out 2
P Kumar b Malinga 0
DW Steyn c Pollard b Malinga 0
B Kumar not out 6
Extras (lb 2, w 2, nb 1) 5
Total (8 wickets; 20 overs) 137
Did not bat: TA Boult
Fall of wickets: 1-45 (Warner, 4.6 ov), 2-52 (Dhawan, 5.6 ov), 3-68 (Ojha, 8.4 ov), 4-104 (Rahul, 14.5 ov), 5-126 (Bopara, 17.4 ov), 6-127 (Vihari, 18.1 ov), 7-127 (P Kumar, 18.3 ov), 8-127 (Steyn, 18.4 ov)
Bowling
Harbhajan Singh 4 0 36 0
MJ McClenaghan 4 0 20 3
SL Malinga 4 1 23 4
J Suchith 4 0 25 1
R Vinay Kumar 4 0 31
 
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India’s forex reserves soar by $ 2.788 billion to $ 343.2 billion

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India’s foreign exchange reserves soared by $ 2.788 billion to $ 343.201 billion in the week ended April 17, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had fallen by $ 2.593 billion in the previous week.
 
In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 2.727 billion to $ 318.859 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect  of  appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves remained unchanged at $ 19.038 billion during the week, while its special drawing rights went up by $ 45.6 million to $ 4.005 bilion.
 
India's reserve position in the Indian Monetary Fund (IMF) went up by $ 14.8 million to $ 1.298 billion, the bulletin added.
 
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Advent to lead acquisition of Crompton Greaves' consumer products business from Avantha

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Private equity firm Advent International today said that it had signed a share purchase agreement with Avantha Holdings Limited, the promoter of Crompton Greaves Limited (CG), whereby it would lead the acquisition of 34.37 percent of CG's consumer products business, Crompton Greaves Consumer Electricals Limited (CGCEL).
 
The announcement by the two companies said Temasek Holdings, another leading private equity firm, would be an independent co-investor alongside Advent in CGCEL.
 
The transaction values CGCEL at an enterprise value of Rs 6,600 crore (US$1.07 billion). 
 
A press release from the two companies said CGCEL would be demerged from CG into a standalone company and will consequently be listed on the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE). 
 
Thereafter, Advent, a global private equity firm with a dedicated presence in India, and Temasek, an investment company based in Singapore, will make an open offer for additional shares of CGCEL in compliance with takeover regulations. 
 
The transaction is subject to closing conditions and receipt of all statutory and other approvals, including the successful demerger of CGCEL from CG and approval from the Reserve Bank of India (RBI) and Competition Commission of India (CCI), the release said.
 
CGCEL, one of CG's largest and fastest-growing businesses, manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps and luminaires to pumps and household appliances such as water heaters, mixer grinders, toasters, irons and electric lanterns. The business is India’s market leader in fans, No. 1 player in residential pumps and has leading market positions in its other product categories. It employs approximately 3,500 people and has six manufacturing facilities.
 
“After an extensive search and careful evaluation, Avantha is pleased to have signed a share purchase agreement for the sale of its stake in Crompton Greaves’ consumer business,” said Gautam Thapar, founder and Chairman of the Avantha Group. “Both Advent and Temasek have extensive financial, sector and operational expertise, and we believe they are well-positioned to support CGCEL in its next phase of growth. I thank all of CGCEL’s employees who have given their best and firmly believe that they will benefit from further expansion and focus under the new stewardship.”
 
“CGCEL is an attractive business that we believe will thrive as a standalone company,” said Shweta Jalan, Managing Director at Advent International in Mumbai. “It has leading positions in several fast-growing product categories with strong brand names and extensive distribution capabilities. Post completion, we look forward to driving growth by investing in sales and marketing, distribution and enhanced product offerings.”
 
According to the release, Advent and Temasek will acquire ownership in CGCEL by purchasing shares in CGCEL from Avantha Holdings following the demerger of the consumer products business from CG and the listing of CGCEL on the BSE and NSE. 
 
The transaction is expected to be completed in the first quarter of 2016.
 
CG had filed with the BSE on March 3, 2015, regarding the demerger of CG’s consumer business into CGCEL, whereby all of CG’s shareholders will receive shares of CGCEL such that the shareholding of CGCEL upon completion of the demerger will mirror the shareholding of CG.
 
The release said CGCEL had grown at a compound rate of 16% per year over the past six years and generated revenue of Rs 28.5 billion (US$459 million) for the fiscal year ended March 31, 2014. The business has benefited from robust long-term growth in the Indian consumer products market, where sales volume has increased approximately 1.5 to 1.9 times India’s real gross domestic product (GDP) from 2002 to 2014. With India’s GDP growth expected to accelerate in the coming years, prospects for the country’s consumer segment remain strong, it said.
 
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“As a standalone company, CGCEL would be able to pursue more strategic goals and thus maximize value for all its stakeholders,” said Laurent Demortier, CEO and Managing Director of CG. “I would like to thank our colleagues in the consumer products business for their commitment and achievements, and I am confident that they will continue to benefit as the business pursues further growth in India and beyond.”
 
Advent International has been investing in India since 2007 and opened a Mumbai office in 2009. Its Indian investments include Computer Age Management Services (CAMS), a leading provider of business process outsourcing services to the asset management industry (subsequently acquired by the National Stock Exchange of India in 2014), and CARE Hospitals, the largest multi-specialty hospital chain in South and Central India. 
 
The Mumbai team also works with Advent’s existing global portfolio companies on growth strategies and acquisitions in the Indian market. Examples include Skillsoft’s acquisition of e-learning business Element K and TransUnion’s acquisition of a controlling stake in credit information company CIBIL.
 
Advent has been investing in the consumer products and industrial sectors for over two decades. During that time, it has invested in nearly 50 manufacturers of consumer products and industrial products and equipment. The firm also has significant experience carving out businesses from corporations, with transactions over the last five years including Allnex (acquired from Cytec Industries), Oberthur Technologies (from Oberthur Fiduciaire), Partner in Pet Food (from Provimi Group), Worldpay (from Royal Bank of Scotland) and Vantiv (from Fifth Third Bank).
 
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. 
 
Incorporated in 1974, Temasek is an investment company based in Singapore, with a S$223 billion portfolio as of March 31, 2014. Its portfolio covers a broad spectrum of sectors: financial services; transportation, logistics and industrials; telecommunications, media and technology; life sciences, consumer and real estate; energy and resources. 
 
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Iyer, Duminy hit half-centuries as Delhi Daredevils crush Mumbai Indians by 37 runs

 
A superb  83 by opener Shreyas Iyer and skipper Jean Paul Duminy's unbeaten 78 steered Delhi Daredevils to an emphatic 37-run win over Mumbai Indians (MI) in the Indian Premier League (IPL) at the Feroz Shah Kotla here tonight.
 
The victory also helped the Daredevils ended a run of nine successive defeats on their home ground since the last season of the Twenty20 tournament.
 
Put in to bat first, the hosts posted a challenging 190 for four from their allotted 20 overs, powered in the main by a 154-run partnership for the second wicket between Iyer and Duminy.
 
Chasing 191 for a win, the visitors proved themselves unequal to the task, ending up far short at 153 for nine from their 20 overs.
 
Delhi Daredevils are now placed fourth on the table with three wins from their six outings so far in the tournament, while Mumbai Indians have been pushed down to the bottom of the eight-team league with just one win in six matches.
 
Coming together at 2 for 1 after the Daredevils lost opener Mayank Agarwal (1) off the third ball of the innings sent down by Mitchell McClenaghan, Iyer and Duminy took the score to 156 before the former left in the 17th over.
 
Iyer's 83 was made off 56 balls with the help of seven fours and five sixes, while Duminy's 78 not out came off 50 deliveries and was studded with three fours and six sixes. Angelo Mathews contributed 17.
 
For Mumbai Indians, McClenaghan ended up with two for 38 from his four overs, while Lasith Malinga and Jasprit Bumrah picked up one each.
 
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The visitors began the chase on a steady note, with Lendl Simmons (15) and Parthiv Patel (28) putting on 35 for the opening wicket. By the sixth over, both openers were back in the pavilion with the total at 48.
 
For a change, all the top order MI batsmen got into double digits, with skipper Robin Sharma and Ambati Rayudi topscoring with 30 each, but none of them was able to build a big score, and the side was soon struggling at 131 for five after 16 overs. Two more wickets in the next over, bowled by Imran Tahir, to make it 135 for eight.
 
Harbhajan Singh (9) and Malinga (6 not out) added 18 for the ninth wicket to delay the inevitable, but Mumbai Indians were never in with a chance, especially in the face of some tight and consistent bowling by the Delhi bowlers and the outstanding fielding. The only consolation for them was that they are yet to be bowled out in the tournament.
 
Imran Tahir took three for 22 from his four overs, while Mathews and Amit  Mishra got two each.
 
Scoreboard
Delhi Daredevils (20 overs maximum)
MA Agarwal c Rayudu b McClenaghan 1
SS Iyer b Malinga 83
JP Duminy not out  78
AD Mathews c Patel b McClenaghan 17
Yuvraj Singh c Pollard b Bumrah 2
KM Jadhav not out 1 1 0 0
Extras (lb 1, w 6, nb 1) 8
Total (4 wickets; 20 overs) 190
Did not bat: NM Coulter-Nile, A Mishra, S Nadeem, Imran Tahir, DJ Muthuswami
Fall of wickets: 1-2 (Agarwal, 0.3 ov), 2-156 (Iyer, 16.4 ov), 3-174 (Mathews, 17.6 ov), 4-187 (Yuvraj Singh, 19.3 ov)
Bowling
MJ McClenaghan 4 0 38 2
SL Malinga 4 0 23 1
JJ Bumrah 4 0 55 1
Harbhajan Singh 4 0 34
HH Pandya 2 0 14 0
KA Pollard 2 0 25 0
 
Mumbai Indians (target: 191 runs from 20 overs)
LMP Simmons c Duminy b Muthuswami 15
PA Patel c Imran Tahir b Mathews 28
UBT Chand st Jadhav b Mishra 14
RG Sharma c Nadeem b Coulter-Nile 30
KA Pollard c Nadeem b Mishra 10
AT Rayudu c Coulter-Nile b Imran Tahir 30
HH Pandya c Coulter-Nile b Imran Tahir 0
Harbhajan Singh c sub (J Yadav) b Mathews 9
MJ McClenaghan c Jadhav b Imran Tahir 0
SL Malinga not out 6
JJ Bumrah not out 0
Extras (lb 2, w 9) 11
Total (9 wickets; 20 overs) 153
Fall of wickets: 1-35 (Simmons, 4.2 ov), 2-48 (Patel, 5.6 ov), 3-68 (Chand, 8.2 ov), 4-82 (Pollard, 10.2 ov), 5-131 (Sharma, 15.6 ov), 6-131 (Pandya, 16.1 ov), 7-135 (Rayudu, 16.3 ov), 8-135 (McClenaghan, 16.4 ov), 9-153 (Harbhajan Singh, 19.4 ov)
Bowling
NM Coulter-Nile 4 0 36 1
DJ Muthuswami 2 0 7 1
JP Duminy 1 0 14 0
AD Mathews 2 0 15 2
A Mishra 4 0 32 2
S Nadeem 3 0 25 0
Imran Tahir 4 0 22 3
 
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L&T Construction wins orders valued at Rs 2674 crore

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Infrastructure major Larsen & Toubro (L&T) today said its construction arm had won orders worth Rs 2674 crore across various business segments.
 
A press release from the company said these included a major order received by its Transportation Infrastructure Business from a private infrastructure developer for the engineering, procurement and construction (EPC) of four- laning of the Hospet-Chitradurga road section in Karnataka under the National Highways Development Project (NHDP) Phase III.
 
The Power Transmission & Distribution Business has bagged an EPC order from a reputed oil refinery company in Middle East for the enhancement of their existing electrical facilities, it said.
 
The Solar Business has received orders for the turnkey construction of solar photovoltaic power plants from multiple private solar developers.
 
Additional orders have also been received from ongoing jobs of other businesses of L&T Construction, the release added.
 
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Simmons, Chand hit fifties as MI beat RCB for first win of season

 
Riding on half-centuries by opener Lendl Simmons and Unmukt Chand, Mumbai Indians defeated Royal Challengers Bangalore by 18 runs to notch up their first win in this season of the Indian Premier League (IPL) at the M Chinnaswamy Stadium here tonight.
 
Put in to bat first, Mumbai Indians posted an imposing 209 for seven from their allotted 20 overs as their top order finally clicked. 
 
Apart from Simmons (59) and Chand ( 58), skipper Rohit Sharma also got among the runs, making 42 off just 15 balls with the help of three fours and four sixes.
 
Chasing 210 for a win, the RCB top order failed to get going and there were soon struggling at 62 for three in the 11th over before AB de Villiers came up with a hurricane 41 off just 11 balls with the help of five fours and three sixes.
 
In the company of Dinesh Karthik (18), he added 35 for the fourth wicket, 22 for the fifth with Rilee Rossouw, who did not score a single run. When he left at 125 in the 15th over,  RCB were still 85 short.
 
David Wiese took over and hammered an unbeaten 47 off 25 balls with the help of six fours and two sixes and Iqbal Abdulla contributed 20, but their efforts were not enough as the asking rate was too high and there were not enough batsmen or overs left. They ended up at 191 for seven from their 20 overs.
 
Mumbai Indians also have to thank Harbhajan Singh, who kept the RCB top order on a tight leash and accounted for the wickets of Chris Gayle (10), Maninder Bisla (20) and Rossouw, giving away just 27 in his four overs.
 
Simmons and Parthiv Patel finally gave MI a good start today by putting on 47  for the first wicket.
 
Chand and Simmons then added 72 for the second wicket, which boosted their confidence further and Sharma consolidated the innings as he and Chand took the total to 182 before the latter left. Pollard made just before being dismissed and Ambati Rayudu was out first ball. Sharma made his exit in the next over. Debutant Hardik Pandya stayed unbeaten on 16, inclusive of two sixes, to boost the MI total.
 
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Given that they have a strong batting line-up and the limitations of the MI bowing attack and the fact that they have chased down 200+ targets thrice on their home ground in the past, the target should not have been daunting for the RCB.
 
But their batsmen made heavy weather of the task today and even a couple of early lives did not loosen them up.
 
It was only de Villiers' amazing knock that brightened up things for them a bit. After he left, Wiese and Abdullah caused worries in the MI camp briefly.
 
While MI now have one win from five outings so far in the tournament, RCB, playing today after a gap of six days, have two losses from three matches thus far.
 
Scoreboard
Mumbai Indians
LMP Simmons c Aaron b Chahal 59
PA Patel b Wiese 12
UBT Chand c Kohli b Chahal 58
RG Sharma c & b Wiese 42
KA Pollard c Chahal b Wiese 5
AT Rayudu c Chahal b Wiese 0
Harbhajan Singh run out (Bisla/Ahmed) 0
HH Pandya not out 16
Extras (lb 4, w 13) 17
Total (7 wickets; 20 overs) 209 (10.45 runs per over)
Did not bat: JJ Bumrah, MJ McClenaghan, SL Malinga
Fall of wickets: 1-47 (Patel, 5.5 ov), 2-119 (Simmons, 13.3 ov), 3-182 (Chand, 17.4 ov), 4-188 (Pollard, 18.2 ov), 5-188 (Rayudu, 18.3 ov), 6-192 (Sharma, 18.5 ov), 7-209 (Harbhajan Singh, 19.6 ov)
Bowling
Iqbal Abdulla 4 0 35 0
VR Aaron 4 0 50 0
AN Ahmed 4 0 59 0
D Wiese 4 0 33 4
YS Chahal 4 0 28 2
 
Royal Challengers Bangalore (target: 210 runs from 20 overs)
CH Gayle b Harbhajan Singh 10
MS Bisla b Harbhajan Singh 20
V Kohli c Rayudu b McClenaghan 18
KD Karthik c Chand b Malinga 18
AB de Villiers c Pollard b Bumrah 41
RR Rossouw b Harbhajan Singh 0
D Wiese not out                      47
Iqbal Abdulla run out (Sharma/Pollard) 20
AN Ahmed not out                         1
Extras (lb 1, w 13, nb 2) 16
Total (7 wickets; 20 overs) 191
Did not bat: VR Aaron, YS Chahal
Fall of wickets: 1-26 (Bisla, 4.6 ov), 2-48 (Gayle, 8.1 ov), 3-62 (Kohli, 10.3 ov), 4-97 (Karthik, 12.1 ov), 5-119 (Rossouw, 13.1 ov), 6-125 (de Villiers, 14.2 ov), 7-183 (Iqbal Abdulla, 19.1 ov)
Bowling
MJ McClenaghan 4 0 43 1
SL Malinga            4 1 35 1
Harbhajan Singh 4 0 27 3
JJ Bumrah            4 0 39 1
HH Pandya            3 0 37 0
KA Pollard            1 0 9 0
 
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Smith, McCullum, Raina star as CSK beat MI by six wickets

 
Openers Dwayne Smith hammered 62 and Brendon McCullum made a superb 46 as Chennai Super Kings outplayed Mumbai Indians (MI) by six wickets in the Indian Premier League (IPL) at the Wankhede Stadium here tonight.
 
Opting to bat first, Mumbai Indians, who are yet to win a match in this edition of the tournament, posted a challenging 183 for seven in their allotted 20 overs, thanks to Kieron Pollard (64) who steadied the innings after an early collapse. Skipper Rohit Sharma made 50.
 
Chasing 184 for a win, CSK never appeared to be under pressure as Smith and McCullum gave them a great start, putting on 109 for the first wicket in 7.2 overs.
 
Smith's 62 came off just 30 balls and included eight fours and four sixes, while McCullum's 46 was made from 20 balls with the help of six fours and two sixes.
 
Suresh Raina made an unbeaten 43, studded with four fours and two sixes, and Dwayne Bravo made 13 not out as CSK reached 189 for four with 3.2 overs to spare. Bravo brought up the winning runs with a huge six over the wide long-on boundary off Pollard.
 
CSK have now won all three of their outings so far in the tournament, while Mumbai Indians have lost all their four matches thus far.
 
It was again the top order that let the Mumbai Indians down today, as they lost three wickets -- Lendl Simmons (5), Parthiv Patel (0) and Corey Anderson (4) -- within four overs with the total at just 12.
 
Sharma and Harbhajan Singh (24) took the score to 57 before the latter left, bringing Pollard to the scene.
 
Sharma and Pollard added 75 for the fifth wicket before the Mumbai skipper made his exit. His 50 was made off 31 balls and included five fours and a six. He chose the deliveries to attack with care and came up with some delightful shots today.
 
Pollard and Ambatti Rayudu (29) then added 49 for the sixth wicket, helping to restore some respectability to the Mumbai total. Pollard was there till the penultimate ball of the innings. He had made his intentions known with the very first ball he faced into the stands and his half-century came off just 21 balls.
 
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For the visitors, Ashish Nehra took three for 23, and acounted for the early scalps of Patel and Anderson as well as Sharma later.
 
Smith and McCullum made the daunting target of 184 appear easy as they let loose from the second over, after a sedate first over which produced just six runs, putting on 90 in the first six overs and reducing the asking rate from 9.20 to a little over a run a ball. They brought up the 50 of the inings in four overs and the next 50 in 2.5.
 
Their opening partnership literally took the fight out of the Mumbai Indians and there was never any doubt about the result after that.
 
Harbhajan Singh finally dismissed both batsmen in the eighth over, but they had already done the damage.
 
Faf du Plessis (11) and captain Mahendra Singh Dhoni (3) did not last very long, but MI then had to contend with Raina, who steered the side to victory.
 
Scoreboard
Mumbai Indians (20 overs maximum)
LMP Simmons c du Plessis b Pandey 5
PA Patel lbw b Nehra 0
CJ Anderson c du Plessis b Nehra 4
RG Sharma c Bravo b Nehra 50
Harbhajan Singh c Jadeja b Sharma 24
KA Pollard c Smith b Bravo 64
AT Rayudu c Jadeja b Bravo 29
J Suchith not out          0
R Vinay Kumar not out            0
Extras (b 2, lb 1, w 4) 7
Total (7 wickets; 20 overs)      183
Did not bat: SL Malinga, P Suyal
Fall of wickets: 1-1 (Patel, 0.4 ov), 2-6 (Anderson, 2.5 ov), 3-12 (Simmons, 3.4 ov), 4-57 (Harbhajan Singh, 9.3 ov), 5-132 (Sharma, 14.6 ov), 6-181 (Rayudu, 19.4 ov), 7-181 (Pollard, 19.5 ov)
Bowling
A Nehra 4 0 23 3
IC Pandey 3 1 22 1
MM Sharma 4 0 43 1
RA Jadeja 4 0 49 0
R Ashwin 1 0 13 0
DJ Bravo 4 0 30 2
 
Chennai Super Kings (target: 184 runs from 20 overs)
DR Smith c Sharma b Harbhajan Singh 62
BB McCullum c Vinay Kumar b Harbhajan Singh 46
SK Raina not out 43
F du Plessis b Malinga 11
MS Dhoni c & b Pollard 3
DJ Bravo not out 13
Extras (w 8, nb 3) 11
Total (4 wickets; 16.4 overs) 189
Did not bat: RA Jadeja, R Ashwin, MM Sharma, IC Pandey, A Nehra
Fall of wickets: 1-109 (McCullum, 7.2 ov), 2-115 (Smith, 7.6 ov), 3-144 (du Plessis, 12.2 ov), 4-166 (Dhoni, 14.5 ov)
Bowling
P Suyal 3 0 28 0
SL Malinga 4 0 40 1
J Suchith 2 0 33 0
Harbhajan Singh 4 0 44 2
R Vinay Kumar 2 0 18 0
KA Pollard 1.4 0 26 1
 
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Reliance reports 8.5% increase in net profit during Q4 of 2014-15

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Energy and petrochemicals major Reliance Industries Limited (RIL) today reported an 8.5 percent increase in its net profit during the fourth quarter, ended March 2015, to Rs 6,381 crore on the back of higher refining margins.
 
The company said its turnover decreased by 33.3 % to Rs. 70,863 crore during the quarter.
 
“FY 2014-15 has been a very successful and important year for Reliance. In a time when the collapse of crude oil prices unsettled the hydrocarbons markets, our refining business delivered record earnings," RIL Chairman and Managing Director Mukesh D. Ambani said.
 
"The earnings power demonstrated by our hydrocarbon businesses in this environment validates our philosophy of investing in world-scale, cost competitive assets, cutting-edge technology and the talent of people. This year we also made giant strides in our quest to sustain Reliance’s growth momentum with the highest-ever capital investment into our hydrocarbon business and our next-generation digital services initiative.
 
"Our organized retail business maintained its high growth trajectory with a wider pan-India footprint. Particularly gratifying, we achieved this, while maintaining our track-record of adhering to highest standards of safety and operational excellence," he said.
 
A press release from the company said it achieved a turnover of Rs. 388,494 crore ($ 62.2 billion) for the year ended 31st March 2015, a decrease of 13.0%, as compared to Rs. 446,339 crore in the previous year. 
 
"The decline in turnover reflects sharp fall in crude oil prices during the second half of the year. Crude oil price averaged at $ 85.4/bbl in FY15, a fall of 21% on Y-o-Y basis. With decrease in oil and product prices, exports from India were lower by 17.1% at Rs. 228,651 crore ($ 36.6 billion) as against Rs. 275,825 crore in the previous year," it said.
 
Strong operating performance from the refining business and stable petrochemicals business performance led higher operating profits. Operating profit before other income and depreciation increased by 7.3 % on a Y-o-Y basis from Rs. 34,799 crore to Rs. 37,364 crore ($ 6.0 billion). Profit after tax was higher by 4.8% at Rs. 23,566 crore as against Rs. 22,493 crore in the previous year, it said.
 
The release said the sharp y-o-y fall in benchmark oil price of around 50 percent was the key factor for the decline in revenue in the fourth quarter.
 
Exports from India were lower by 44.0% at Rs. 37,480 crore ($ 6.0 billion) during the quarter as against Rs. 66,875 crore in the corresponding period of the previous year due to lower commodity oil prices.
 
Cost of raw materials declined by 52.0% to Rs. 40,220 crore ($ 6.4 billion) from Rs. 83,749 crore on Y- o-Ybasis, it said.
 
The company's outstanding debt as on 31st March 2015 was Rs. 160,860 crore ($ 25.7 billion) compared to Rs. 138,761 crore as on 31st March 2014.
 
Cash and cash equivalents as on 31st March 2015 were at Rs. 84,472 crore ($ 13.5 billion). These were in bank deposits, mutual funds, CDs and Government Bonds and other marketable securities, it said.
 
The capital expenditure for the year ended 31st March 2015 was Rs. 100,247 crore ($ 16.0 billion) including exchange rate difference capitalization. Capital expenditure was principally on account of ongoing expansions projects in the petrochemicals and refining business at Jamnagar, Dahej and Hazira, Broad band Access and US Shale gas projects.
 
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HCC Concessions to sell stake in Dhule Palesner Tollway Ltd to Sadbhav Group

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HCC Concessions Ltd, the infrastructure development arm of the HCC Group, today announced the sale of its stake in the Rs 1420 crore Dhule Palesner Tollway Ltd to the Sadbhav Group, HCC’s JV partner in the project, for Rs. 204 crore. 
 
HCC Concessions is also expected to realize an estimated amount of Rs. 24 crore from additional claims to be made to the National Highway Authority of India (NHAI), towards this project. 
 
The deal is subject to receipt of necessary clearances and is expected to close shortly, a press release from the company said.
 
Last December, the company had signed definitive documents with IDFC for sale of Nirmal BOT Ltd, its annuity project in Andhra Pradesh, for Rs.64 crore. A Rs.13 crore claim award, receivable from the NHAI related to early completion bonus, was paid by the authority in February 2015.
 
Mr Arjun Dhawan, President & CEO of the company said, “The sale of Dhule furthers our goal of exiting de-risked, operational assets. Dhule has had an exemplary operational record over the past three years post its commissioning in 2012, four months ahead of schedule. Our partnership with Sadbhav has been special and we look forward to our next association with them.”
 
In FY09, NHAI awarded the development of Dhule Palesner Tollway Ltd to an HCC-led consortium comprising the Sadbhav Group and UK based John Laing. Dhule has been developed with a total capital cost of Rs.1,420 crore. This 89 km public-private-partnership (PPP) project is part of NH-3, one of the country’s primary north-south commercial corridors, connecting Mumbai to Agra. It is a primary conduit for transportation of passengers as well as freight traffic between the state of Uttar Pradesh and major towns in the states of Madhya Pradesh and Maharashtra. 
 
The project started commercial operations in February 2012, four months ahead of scheduled completion. The concession period is 18 years and major construction highlights include 4 bypasses, 3 major bridges, 38 minor bridges, 7 flyovers, 9 underpasses, 1 rail-over-bridge, 65 box culverts, 71 pipe culverts and 2 toll plazas.
 
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IPL: Kings XI Punjab beat Mumbai Indians by 18 runs

 
Kings XI Punjab pulled off an 18-run win over Mumbai Indians in the seventh match of the eighth edition of the Indian Premier League (IPL) at the Wankhede Stadium here today but not before a late blitz by Harbhajan Singh, who blasted 64 off 24 balls, took the excitement right into the last over.
 
Asked to bat first, Kings XI put up a competitive 177 for five from their allotted 20 overs, with skipper George Bailing leading from the front with an unbeaten 61.
 
Chasing 178 for a win, the Mumbai Indians batsmen were found wanting and it is only Harbhajan's fireworks at the end, which saw him hammer six sixes and five fours, that saved them from humiliation.
 
After the top order had collapsed, Harjbhajan and Jagadeesha Suchith (34 not out) added 100 runs for the seventh wicket, but it was simply not enough today. Mumbai Indians added 80 for the loss of one wicket in the last five overs -- a fact that gives some idea of the sway Harbhajan, coming in at number 8, held today.
 
KXIP had lost their first match by 26 runs to Rajasthan Royals at Pune, one of their home grounds, on April 10. For Mumbai Indians, it was their second straight loss, having done down to defending champions Kolkata Knight Riders by seven wickets in the opening match of the tournament on April 8.
 
Batting first, KXIP got off to a good start, with openers Murali Vijay (35) and Virender Sehwag (36) putting on 60 for the first wicket.
 
Glenn Maxwell (6) followed Sehwag into the pavilion but David Miller (24) and Vijay took the score to 88. After that, Miller and Bailey added 46 for the fourth wicket.
 
Bailey's 61 came off 32 balls and included three sixes and four fours. His effort got him the Man of the Match award.
 
For Mumbai Indians, Harbhajan and Lasith Malinga picked up two wickets apiece.
 
Chasing 178 for a win, the hosts lost skipper Rohit Sharma off the second ball of the innings, trapped leg before wicket by Sandeep Sharma without scoring. Aditya Tare (7) left in the fourth over and Aaron Finch made just eight before making his exit in the sixth over. Corey Anderson (5) was the next to go to make it 25 for four in the eighth over.
 
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Ambati Rayudu (13) and Kieron Pollard (20) could not make much of a difference and pretty soon they were struggling at 59 for six, when Harbhajan and debutant Suchith came together.
 
They had a herculean task, but the two raised some hopes in the home crowd, especially Harbhajan with his lusty hitting. However the late surge could take the hosts only thus far. Harbhajan reached his 50 off just 19 balls. The pair added 50 runs off 19 balls and the next 50 of their partnership in 20 more.
 
When Harbhajan fell to the last but one ball of the innings, his team was still 19 runs short. Anureet Singh, who claimed his wicket, was the first to congratulate him for his superb effort and many of the other fielders also applauded his knock.
 
For Punjab, Anureet, Mitchel Johnson and Axar Patel picked up two wickets each.
 
Scoreboard
Kings XI Punjab (20 overs maximum)
M Vijay c Suchith b Harbhajan Singh 35
V Sehwag c Pollard b Harbhajan Singh 36
GJ Maxwell c Rayudu b Suchith 6
DA Miller c Tare b Malinga           24
GJ Bailey not out                             61
R Dhawan c Vinay Kumar b Malinga 6
MG Johnson not out                   3 
Extras (b 1, lb 2, w 3)                  6
Total (5 wickets; 20 overs)        177
Did not bat: WP Saha, AR Patel, Anureet Singh, Sandeep Sharma
Fall of wickets: 1-60 (Sehwag, 6.4 ov), 2-68 (Maxwell, 7.4 ov), 3-88 (Vijay, 10.2 ov), 4-134 (Miller, 15.3 ov), 5-150 (Dhawan, 17.1 ov)
Bowling
R Vinay Kumar 4 0 46 0
P Suyal          3 0 22 0
SL Malinga          4 0 34 2
Harbhajan Singh 4 0 20 2
J Suchith          4 0 41 1
KA Pollard          1 0 11 0
 
Mumbai Indians (target: 178 runs from 20 overs)
RG Sharma lbw b Sandeep Sharma 0
AJ Finch          b Johnson                             8             
AP Tare         c Vijay b Anureet Singh 7
AT Rayudu         c  Saha b Johnson         13
CJ Anderson st Saha b Patel               5
KA Pollard          c Miller b Patel                 20
J Suchith       not out                           34
Harbhajan Singh c Sandeep Sharma b Anureet Singh 64
R Vinay Kumar not out                             0
Extras (lb 3, w 3, nb 2)                             8
Total     (7 wickets; 20 overs)               159
Did not bat: SL Malinga, P Suyal
Fall of wickets: 1-0 (Sharma, 0.2 ov), 2-15 (Tare, 3.3 ov), 3-17 (Finch, 5.2 ov), 4-25 (Anderson, 7.3 ov), 5-46 (Rayudu, 11.5 ov), 6-59 (Pollard, 13.4 ov), 7-159 (Harbhajan Singh, 19.5 ov)
Bowling
Sandeep Sharma 4 1 12 1
Anureet Singh       4 0 41 2
MG Johnson         4 1 23 2
AR Patel                4 0 30 2
R Dhawan             4 0 50 0
 
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HDFC reduces lending rates to benefit all customers

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Housing finance major HDFC Limited today announced a reduction in its Retail Prime Lending Rate (RPLR) by 20 basis points, with effect from April 13, 2015.  
 
"This reduction would benefit all customers," a press release from the company said.
 
The reduction in the RPLR will also be applicable on loans to non-resident Indians (NRIs), the release said.
 
HDFC has also revised its deposit rates, the release added.
 
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IPL: KKR begin title defence with 7-wicket home win over Mumbai Indians

 
Defending champions Kolkata Knight Riders (KKR) began their title defence in the eighth edition of the Indian Premier League (IPL) with an emphatic seven-wicket win over Mumbai Indians (MI) at the Eden Gardens here this evening.
 
Put in to bat first, MI made 168 for three from their allotted 20 overs to which KKR responded with 170 for three in 18.3 overs to triumph with nine balls to spare.
 
Skipper Rohit Sharma made un unbeaten 98 for Mumbai Indians, inclusive of 12 fours and four sixes, while Corey Anderson remained not out on 55 with the help of five fours and three sixes.
 
For KKR, Morne Morkel took two for 18 from his four overs, while Shakib Al Hasan picked up one for 48.
 
KKR suffered an early setback when they lost opener Robin Uthappa (9) with just 13 on the board, but skipper Gautam Gambhir (57) and Manish Pandey (40) added 85 for the second wicket to help them stay on course.
 
After Pandey's departure, Suryakumar Yadav (46 not out) joined Gambhir and the two took the total to 121 before the latter made his exit.  Yadav and Yusuf Pathan (14 not out) then ensured there were no further hiccups for the home team.
 
Gambhir's 57 was compiled off 43 balls with the help of seven fours and a six. In sharp contrast, Yadav's quickfire 46 was made off just 20 deliveries and was studded with five sixes and a four.
 
Scoreboard:
Mumbai Indians (20 overs maximum)
RG Sharma not out 98
AJ Finch c UT Yadav b Morkel 5
AP Tare c UT Yadav b Shakib Al Hasan 7
AT Rayudu c Pathan b Morkel 0
CJ Anderson not out 55
Extras (lb 1, w 2) 3
Total (3 wickets; 20 overs) 168
Did not bat: KA Pollard, Harbhajan Singh, SL Malinga, R Vinay Kumar, JJ Bumrah, PP Ojha
Fall of wickets: 1-8 (Finch, 1.3 ov), 2-37 (Tare, 4.6 ov), 3-37 (Rayudu, 5.2 ov)
Bowling
UT Yadav             3 0 36 0
M Morkel              4 1 18 2
Shakib Al Hasan 4 0 48 1
SP Narine            4 0 28 0
AD Russell          3 0 21 0
PP Chawla           2 0 16 0
 
Kolkata Knight Riders (target: 169 runs from 20 overs)
RV Uthappa c Harbhajan Singh b Anderson 9
G Gambhir c Rayudu b Bumrah 57
MK Pandey c Pollard b Harbhajan Singh 40
SA Yadav not out 46
YK Pathan not out 14
Extras (lb 2, w 2) 4
Total (3 wickets; 18.3 overs) 170
Did not bat: Shakib Al Hasan, AD Russell, PP Chawla, SP Narine, UT Yadav, M Morkel
Fall of wickets: 1-13 (Uthappa, 2.5 ov), 2-98 (Pandey, 11.6 ov), 3-121 (Gambhir, 14.2 ov)
Bowling
SL Malinga          4 0 27 0
R Vinay Kumar 3.3 0 21 0
CJ Anderson       2 0 21 1
JJ Bumrah           3 0 38 1
PP Ojha               2 0 23 0
Harbhajan Singh 4 0 38 1
 
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RBI keeps repo rate unchanged at 7.5%, CRR at 4%, citing upside risks to inflation

The Reserve Bank of India on Tuesday decided to keep unchanged its key repo rate at 7.5 percent and the cash reserve ratio of scheduled banks at 4.0 per cent, pointing to upside risks to the central projection on inflation rates.

RBI logo
The Reserve Bank of India (RBI) today decided to keep unchanged its key repo rate at 7.5 percent and the cash reserve ratio (CRR) of scheduled banks at 4.0 per cent, pointing to upside risks to the central projection on inflation rates.
 
In its first Bi-monthly Monetary Policy Statement for 2015-16, the central bank also said it would continue to provide liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the liquidity adjustment facility (LAF) repo rate and liquidity under 7-day and 14-day term repos of up to 0.75 per cent of net demand and time liability (NDTL) of the banking system through auctions.
 
It said it would continue with daily variable rate repos and reverse repos to smooth liquidity.
 
Consequently, the reverse repo rate under the LAF will remain unchanged at 6.5 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 8.5 per cent, the statement said.
 
Outlining its ssessment of the current and evolving macro-economic situation, the RBI said that, in 2015 so far, the inflation path had evolved along the projected path after a sizable undershoot of the January 2015 target. 
 
It said consumer price index (CPI) inflation is projected at its current levels in the first quarter of 2015-16, moderating thereafter to around 4 per cent by August but firming up to reach 5.8 per cent by the end of the year.
 
"here are upside risks to the central projection emanating from possible intensification of el niño conditions leading to a less than normal monsoon; large deviations in vegetable and fruit prices from their regular seasonal patterns, given unseasonal rains; larger than anticipated administered price revisions; faster closing of the output gap; geo-political developments leading to hardening of global commodity prices; and spillover from external developments through exchange rate and asset price channels," it noted.
 
"However, at this juncture, these upside risks appear to be offset by downsides originating from global deflationary/disinflationary tendencies, the still soft outlook on global commodity prices; and slack in the domestic economy," it said.
 
 
RBI keeps repo rate unchanged at 7.5%
"Transmission of policy rates to lending rates has not taken place so far despite weak credit off take and the front loading of two rate cuts. With little transmission, and the possibility that incoming data will provide more clarity on the balance of risks on inflation, the Reserve Bank will maintain status quo in its monetary policy stance in this review," the statement said.
 
The RBI said the Monetary Policy Framework Agreement signed by it and the Government of India in February 2015 would shape the stance of monetary policy in 2015-16 and succeeding years. 
 
"The Reserve Bank will stay focussed on ensuring that the economy disinflates gradually and durably, with CPI inflation targeted at 6 per cent by January 2016 and at 4 per cent by the end of 2017-18. Although the target for end-2017-18 and thereafter is defined in terms of a tolerance band of +/- 2 per cent around the mid-point, it will be the Reserve Bank’s endeavour to keep inflation at or close to this mid-point, with the extended period provided for achieving the mid-point mitigating potentially adverse effects on the economy," it said.
 
"As outlined above, several favourable forces are at work, consistent with the change in the monetary policy stance towards accommodation effected from January. The Reserve Bank’s intent is to allow the disinflationary momentum to spread through the economy, but remain vigilant about any resurgence of inflationary pressures that may destabilise the progress towards the inflation objectives set in the Agreement," it said.
 
According to it, the outlook for growth is improving gradually. Comfortable liquidity conditions should enable banks to transmit the recent reductions in the policy rate into their lending rates, thereby improving financing conditions for the productive sectors of the economy. 
 
"Along with initiatives announced in the Union Budget to boost investment in infrastructure and to improve the business environment, these factors should provide confidence to private investment and, together with the conducive outlook on inflation, deliver real income gains to consumers and lower input cost advantages to corporates. GDP growth estimates of the CSO for 2014-15 already project a robust pick-up, but leading and coincident indicators suggest a downward revision of these estimates when fuller information on real activity for the last quarter becomes available.
 
"Uncertainty surrounding the arrival and distribution of the monsoon and unanticipated global developments are the two major risks to baseline growth projections. Assuming a normal monsoon, continuation of the cyclical upturn in a supportive policy environment, and no major structural change or supply shocks, output growth for 2015-16 is projected at 7.8 per cent, higher by 30 bps from 7.5 per cent in 2014-15, but with a downward bias to reflect the still subdued indicators of economic activity," it said.
 
The RBI said that, going forward, the accommodative stance of monetary policy would be maintained, but monetary policy actions would be conditioned by incoming data.
 
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"First, the Reserve Bank will await the transmission by banks of its front-loaded rate reductions in January and February into their lending rates. Second, developments in sectoral prices, especially those of food, will be monitored, as will the effects of recent weather disturbances and the likely strength of the monsoon, as the Reserve Bank stays vigilant to any threats to the disinflation that is underway. The Reserve Bank will look through both seasonal as well as base effects. Third, the Reserve Bank will look to a continuation and even acceleration of policy efforts to unclog the supply response so as to make available key inputs such as power and land. 
 
"Further progress on repurposing of public spending from poorly targeted subsidies towards public investment and on reducing the pipeline of stalled investment will also be helpful in containing supply constraints and creating room for monetary accommodation. Finally, the Reserve Bank will watch for signs of normalisation of the US monetary policy, though it anticipates India is better buffered against likely volatility than in the past," the statement said.
 
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L&T Construction wins orders valued at Rs 5492 crore

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Infrastructure major Larsen & Toubro (L&T) today said its construction arm had won orders worth Rs 5492 crore across various segments in March this year.
 
A press release said these included contracts worth Rs 2788 crore secured by its Buildings & Factories Business, including ad-ons.
 
It said a major order was received for the construction of a mixed use development complex in Mumbai which will consist of eight residential towers and a commercial building spread over an 
estimated total built-up area of 35 lakh sq. ft.
 
The scope involves civil, structural, architectural, finishes, mechanical, electrical and plumbing works, it said.
 
The release said the company's Power Transmission & Distribution Business had bagged orders worth Rs 984 crores in both the international and domestic markets, including add-ons.
 
New orders and variations have been won from various reputed customers in the Middle East which includes engineering, procurement and construction of 220kV and 132kV substations and power upgradation works at certain facilities.
 
The release said the Water & Renewable Energy Business had received an order worth Rs 188 crores from the Rural Water Supply & Sanitation Department for the construction of intake wells, water treatment plants and a raw water pumping main in the Medak district of Telangana along with associated electrical, 
mechanical and instrumentation works.
 
Additional orders worth Rs1552 crores have been received from various ongoing jobs of other businesses of L&T Construction, the release added.
 
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Agreement signed for transfer of land for memorial for Ambedkar

Dr Bhimrao Ambedkar
Dr Bhimrao Ambedkar
A tripartite agreement was signed here today between the Union Ministry of Textiles, the Government of Maharashtra and the National Textile Corporation (NTC) for the transfer of 12 acres of land adjacent to the Chaityabhoomi in the Indu Mills Compound in Mumbai, where the last rites of Babasaheb Ambedkar, the architect of the Constitution of India, were performed. 
 
Prime Minister Narendra Modi, Union Minister of State for Textiles Santosh Gangwar and Maharashtra Chief Minister Devendra Fadnavis were amongst those who witnessed the signing of the agreement.
 
An official press release said the agreement would pave the way for resolving the long-pending issue of transfer of land from the NTC to the Government of Maharashtra to enable construction of a befitting memorial for Dr Ambedkar.
 
Mr Fadnavis and Mr Gangwar thanked the Prime Minister for his initiative in removing the hurdles in transfer of land for construction of the memorial.
 
Mr Fadnavis said a beautiful memorial would now be constructed for Dr Ambedkar.
 
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Essar Oil appoints Rugmani Shankar as independent director

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Essar Oil, a part of the Essar Group, today said that it had appointed Ms Rugmani Shankar, a chartered accountant, as an independent director on its board with effect from March 31.
 
A press release from the company said Ms. Shankar had over three decades of experience in corporate and service sector.
 
Prior to founding her own accountancy, audit, compliance and corporate governance consultancy in 1992, Ms. Shankar worked with Indian Oil Corporation (IOC) for nearly a decade during which time she was actively involved in in product accounting and profitability. 
 
"Ms. Shankar brings with her a deep domain expertise on tax planning, debt syndication, acquisition due diligence etc.," she said.
 
Mr. Prashant Ruia, Chairman, Essar Oil said, “We are pleased to welcome Ms. Rugmani Shankar on board of Essar Oil. Ms. Shankar is a well-regarded professional with expertise in various facets of corporate finance and the board looks forward to enrich from her wide experience.”
 
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Indian nationals from Yemen reach Kochi, Mumbai

A group of Indian nationals evacuated from Aden in war-torn Yemen waiting in Djibouti for the flight home, on April 1, 2015
A group of Indian nationals evacuated from Aden in war-torn Yemen waiting in Djibouti for the flight home, on April 1, 2015
An Indian Air Force (IAF) C-17 Globemaster III aircraft landed in Kochi in the early hours of today with 168 Indian nationals who had been evacuated by an Indian Navy ship from war-torn Yemen to Djibouti on Tuesday night.
 
Another group of 190 people, also evacuated by the same ship, INS Sumitra, travelled to Mumbai from Djibouti by a second IAF C-17 Globemaster III aircraft.
 
The first aircraft landed in Kochi at 0147 hours and the second in Mumbai at 0324 hours today, an official press release from the Ministry of Defence said. The two aircraft had taken off from Delhi to Djibouti yesterday.
 
INS Sumitra, an offshore patrol vessel, had reached Aden on Tuesday and had evacuated the first batch of Indians the same night. The ship reached Djibouti during the day yesterday.
 
"You are safe now," Minister of State for External Affairs V K Singh, who was in Djibouti to oversee the evacuation operations, told the Indians.
 
 
Hundreds of Indians arrive home from war-torn Yemen
The 350 Indians evacuated by INS Sumitra included 206 people from Kerala, 40 from Tamil Nadu, 31 from Maharashtra, 23 from West Bengal, 22 from Delhi, 15 from Karnataka and 13 from Andhra Pradesh/Telangana, Ministry of External Affairs (MEA) sources said.
 
Meanwhile, the evacuation of more Indians from Yemen will continue, with INS Sumitra due to dock at Al Hudaydah today, from where about 300 Indians are waiting to be moved to Djibouti.
 
The Indian Navy has deployed three ships in support of the evacuation operation. 
 
In a well coordinated operation involving multiple agencies, INS Sumitra, which had been deployed for anti-piracy patrol in the Gulf of Aden since March 11, was the first to undertake evacuation from Yemen. 
 
The ship was re-deployed off the Port of Aden on March 30 and, thereafter, entered Aden Harbour on Tuesday evening.
 
IN Ships Mumbai and Tarkash also sailed from Mumbai on March 30. They will escort two passenger vessels, Kavaratti and Corals, through the piracy risk area off the coast of Somalia. These passenger vessels had sailed from Kochi on March 30 to Djibouti. 
 
The two warships will, thereafter, be available for evacuation of Indian nationals from Yemeni ports, as required.
 
The Indian Railways had also made special arrangements in Mumbai to ensure the safe return of the evacuees to their homes.
 
Mr Sunil Kumar Sood, General Manager, Central & Western Railway, received the evcuees at the Mumbai International Airport.
 
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As directed by Minister of Railways Suresh Prabhu, they were guided to a special ticketing counter opened for them at the airport and given confirmed tickets to various destinations such as Gorakhpur, Thiruvananthapuram, Muzaffarpur, Chhapra, Madurai, Chennai, Hyderabad, Kanyakumari, and so on.
 
Later they were shifted in buses to Lokmanya Tilak Terminus and Chhatrapati Shivaji Terminus Mumbai.
 
At the railway stations they were settled in waiting rooms and provided with breakfast and water. A total of 75 persons were accommodated in trains.
 
Mr Amitabh Ojha, Divisional Railway Manager, Mumbai Division and other senior railway officials were present at the airport and railway stations.
 
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Ronen Sen, Farida Khambata appointed directors of Tata Sons

Ronen Sen
Ronen Sen
Former Indian Ambassador to the United States Ronen Sen and Ms Farida Khambata, member, investment committee of Cartica and former member of IFC’s management group, have been appointed as non-executive independent directors of Tata Sons.
 
Tata Sons is the promoter of the major operating Tata companies and holds significant shareholdings in these companies.
 
Mr Sen was India’s ambassador to the United States from 2004 to 2009 and had played a crucial role in the signing of the India-US civil nuclear cooperation agreement in July 2005.
 
He has also been India’s High Commissioner to the United Kingdom (2002-04) and Ambassador to Germany (1998-2002), Russia (1992-98) and Mexico (1991-92).
 
From 1986 to 1991, he was foreign and defence policy advisor to successive Prime Ministers and had several assignments as special envoy of the Prime Minister for meetings with heads of state or government. 
 
Joining the Indian Foreign Service (IFS) in 1966, between 1968 and 1985 he served in Indian missions in the former USSR, the United States and Bangladesh; as deputy secretary, DAE & secretary to the Atomic Energy Commission, and as deputy secretary and joint secretary in the Ministry of External Affairs. He has participated in about 180 bilateral and multilateral summit meetings in six continents. 
 
Mr Sen has also served on the board of Tata Motors as a non-executive independent director from 2010 to 2012.
 
Ms Khambata is the global strategist of Cartica and a member of its investment committee. Prior to joining Cartica, she was a member of IFC’s management group, the senior leadership team of IFC. In her last position at IFC, she served as regional vice president in charge of all operations in East Asia and the Pacific, South Asia, Latin America and the Caribbean and the global manufacturing cluster. 
 
She was responsible for strategy, investment operations and advisory services in IFC’s member countries in these regions, which account for about three-quarters of all IFC’s investments. She also oversaw all equity investments globally and investments specifically in agribusiness, manufacturing and services, and health and education.
 
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